Under the deal, the US government is committing $8.9 billion to purchase Intel stock, which would give the government a 9.9% stake in the company. That's in addition to the $2.2 billion grant Intel has already received from the US under the CHIPS Act, which was signed into law by former President Joe Biden in 2022.

In an unprecedented move to foster national semiconductor production, the U.S. government has attained a 10% equity stake in Intel Corporation. Intel is an American multinational technology

The deal caps a two-week frenzy for the troubled chip maker and marks the latest in a series of extraordinary private-sector interventions by the president.