The US investment in Intel is a rare example of the government taking a stake in a private company. INTC closed up on Friday but dipped after hours.

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.

The Silicon Valley chipmaker’s journey from icon to a government project, with the sale of a 10 percent stake to the Trump administration, underlines how even the mightiest in tech can fall.

While Intel says the government is making an “$8.9 billion investment in Intel common stock,” the administration does not appear to be committing new funds.

Defense Secretary Pete Hegseth has fired a general whose agency's initial intelligence assessment of U.S. damage to Iran nuclear sites angered President Trump.

President Donald Trump announced that his administration will be conducting a "major tariff investigation on furniture," completed within 50 days. After that, Trump vows an undetermined tariff rate will be implemented on furniture coming into America.