Intel stock jumps 6% after Trump says chipmaker agreed to a $10 billion deal with the US government

"I said, you know what, I think the United States should be given 10% of Intel,"

"And he said, I would consider that. I said, well, I'd like you to do that because Intel's been left behind as, you know, compared to Jensen."

"I said I think it would be good having the United States as your partner. He agreed. And they've agreed to do it and I think it's a great deal for them and I"

A reported agreement would give the U.S. government about a $10 billion investment for roughly a 10% stake in Intel, potentially making the U.S. the company’s largest shareholder. Intel has not confirmed the deal and declined to comment; the White House did not immediately respond to requests for confirmation. Intel shares rose more than 6% after the claim. The chipmaker has lost market share to foreign competitors such as Taiwan Semiconductor Manufacturing Company. A prior White House meeting between Intel’s CEO and U.S. officials followed calls for the CEO’s resignation over reported Chinese investments, after which public comments toward the CEO became more favorable.

Read at Business Insider