President Donald Trump on Friday announced the U.S. government has secured a 10% stake in struggling Silicon Valley pioneer Intel in a deal completed just a couple weeks after he depicted the

By Jaspreet Singh, Max A. Cherney and Sayantani Ghosh SAN FRANCISCO (Reuters) -U.S. President Donald Trump is injecting nearly $9 billion into Intel in exchange for a 9.9% equity stake. But the money - which the struggling chipmaker was slated to receive anyway under a federal funding act - will not be enough for its contract-chipmaking business to flourish,

Fox News host Lara Trump says President’s Intelligence Advisory Board chair Devin Nunes was right all along when it came to the Russia 'collusion hoax' on 'My View.'

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.

Intel shares were up about 6% on the day, adding to earlier gains after reports that President Trump is set to announce the U.S. government is taking a nearly 10% stake in troubled chipmaker. The investment would cap a two-week frenzy in Washington over the future of the company.

Conservative radio host Erick Erickson called the equity stake plan “terrible” and said it was “actual socialism happening by a Republican administration.”