President Donald Trump on Friday said the U.S. government had reached a deal to take a 10 percent equity stake in the chipmaker Intel, worth approximately $10 billion. “I said, I think it would be good having the United States as your partner,” Trump said Friday at the White House. “ [CEO Lip-Bu Tan] agreed, and they’ve agreed to do it.”

US Secretary of Commerce Howard Lutnick said on Friday that the federal government will take a 10% stake in Intel.

President Donald Trump said on Friday he reached an agreement with Intel CEO Lip-Bu Tan that would involve the struggling chipmaker giving the United States a company stake worth $10 billion, a deal model that Trump said he hopes to revisit with other companies.