Treasury Secretary Scott Bessent said the White House wouldn't try to flex its power with a stake in Intel.

Lutnick just laughed it off, indignantly pointing out that “we were just giving away the money” under the previous terms of the CHIPS Act. But the legality of any equity stake would likely be challenged by both Intel shareholders and competitors in the industry, according to the Times.

Shining a Spotlight on Intel Intel (NASDAQ:INTC) has emerged from the shadows of its semiconductor rivals, capturing the attention of investors and policymakers alike. After years of struggling to keep pace with competitors like Nvidia (NASDAQ:NVDA) and Taiwan Semiconductor Manufacturing (NYSE:TSM),

We should get an equity stake for our money,” Howard Lutnick tells CNBC about move, which could make US government largest shareholder in Intel - Anadolu Ajansı

Intel Corporation sees a steep rally; speculation over U.S. stake and SoftBank investment fuels optimism, but can it overcome challenges? Click for our INTC update.

The shares of the chip giant lost 60% of their value last year as it could not gain traction in the artificial intelligence (AI) market, which is dominated by Nvidia