Intel's statement followed remarks from Trump that Washington would gain a direct stake in the chipmaker under a new agreement.

The U.S. government has taken a 10% stake in struggling U.S. chipmaker Intel, President Donald Trump announced in a social media post.

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 company’s CEO as a conflicted leader unfit for the job.