Commerce Secretary Howard Lutnick told CNBC the U.S. government wants a stake in Intel in exchange for CHIPS Act grant money promised under Biden.

White House press secretary Karoline Leavitt said on Tuesday that Russian President Vladimir Putin has promised to meet with Ukrainian President Volodymyr Zelenskyy.

Intel shares gained on Tuesday after the White House confirmed the Trump administration is negotiating a deal that could see the U.S. government take a 10% equity stake in the chipmaker, according to the BBC.

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

The billionaire investor often called Japan's Warren Buffett is making a huge bet on a legendary US firm. Shares jumped eight percent.

The U.S. chipmaker has struggled to keep pace in the AI market alongside competitors like Nvidia. Softbank has agreed to buy Intel common stock at $23 per share.

The Trump administration is weighing whether to take a 10% ownership stake in Intel, according to a Bloomberg report, a move that could make the U.S. government the chipmaker’s largest shareholder. Officials are discussing converting part or all of Intel’s $10.

Japanese tech-investment giant SoftBank agreed to invest $2 billion in Intel, boosting the embattled chip maker at a t