Intel to Sell 10% of Company to U.S. Government

Intel is set to give up 10% of its ownership to the U.S. government, a move driven by the administration’s desire for a greater stake in the chipmaker. The announcement came after Bloomberg broke the story, with Intel’s stock price surging nearly 6% on Friday following the news. The deal, which is still being finalized and doesn’t involve any direct cash bailout, will result in the U.S. government owning a significant portion of Intel for an approximate value of $10 billion. President Trump has already publicly confirmed the agreement.