Trump administration in talks to take 10% stake in Intel

Intel has been slated to receive a combined $10.9bn in Chips Act grants for commercial and military production, and the figure is roughly enough to pay for the US government's holding. File Picture

The Trump administration is in talks to take a 10% stake in Intel by converting some or all of the struggling company's Chips Act grants into equity.

Shares of Intel fell about 3% on Monday, after rallying last week on hopes of US federal support. A 10% stake in the American chipmaker would be worth about $10bn.