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.

The Trump administration is considering a plan to reallocate at least $2 billion from the CHIPS Act to fund critical minerals projects and boost Commerce Secretary Howard Lutnick's influence over the strategic sector,

The Trump administration is considering a plan to reallocate at least $2 billion from the CHIPS Act to fund critical minerals projects, aiming to reduce U.S. dependence on China and enhance Commerce Secretary Howard Lutnick's role in the sector.

Lutnick just laughed it off, indignantly pointing out that “we were just giving away the money” under the previous terms of the CHIPS Act. But the legality of any equity stake would likely be challenged by both Intel shareholders and competitors in the industry, according to the Times.

The Trump administration is weighing a controversial plan to reallocate at least $2 billion from the CHIPS Act to fund critical minerals projects, according to two sources familiar with the matter, Reuters reported.

The White House is mulling a plan to reallocate at least $2B from the CHIPS Act to fund critical minerals projects and increase Commerce Secretary

The Trump administration is considering a plan to reallocate at least $2B from the CHIPS Act to fund critical minerals projects and boost Commerce Secretary Lutnick's influence over the sector, Reuters reported Thursday.

Administration isn’t eyeing equity in semiconductor companies that are increasing U.S. investment like TSMC and Micron, but may take stakes in others.

Micron, TSMC, and more have also been awarded billions in subisidies The US government is considering taking a stake in Intel and other semiconductor companies that benefit from CHIPS Act funding, according to officials from the Trump administration.