Lip-Bu Tan, chief executive officer of Intel Corp., departs following a meeting at the White House in Washington, DC, US, on Monday, Aug. 11, 2025.
White House officials previously told CNBC that Trump and Intel CEO Lip-Bu Tan will meet on Friday afternoon. Lutnick's post included a photo with Tan.
"They've agreed to do it and I think it's a great deal for them," Trump told reporters Friday at the White House
Earlier on Friday, President Donald Trump said the government should get about 10% of the company, which has a market cap of just over $100 billion.
Intel shares rose about 6% during trading on Friday. They were flat in extended trading.
Commerce Secretary Howard Lutnick said on Friday that the U.S. government has taken a 10% stake in Intel, the embattled chipmaker that is the only American company capable of making advanced chips on U.S. soil.
The move would mark the latest example of a distinct shift in U.S. industrial policy, with the government taking an active role in corporate America. Lutnick told CNBC this week that the U.S. government was seeking an equity stake in Intel in exchange for CHIPS Act funds.
"We should get an equity stake for our money," Lutnick said on CNBC's "Squawk on the Street." "So we'll deliver the money, which was already committed under the Biden administration. We'll get equity in return for it."
Lutnick said that the government's stake would be "nonvoting."
Earlier this week, Intel announced another major backer, when SoftBank said it would make a $2 billion investment in the chipmaker, equal to about 2% of the company.
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