Liberal U.S. Senator Bernie Sanders on Wednesday threw his support behind President Donald Trump's plan to convert U.S. grants to chipmakers, including $10.9 billion for Intel, into government stakes in the companies.

The US government is in discussions to potentially take a partial ownership stake in Intel, according to an Aug. 18 report by Bloomberg. The deal could help accelerate the construction of Intel’s long-delayed semiconductor manufacturing plant in Ohio.

United States Senator Bernie Sanders has thrown his support behind US President Donald Trump’s plan to convert US grants to chipmakers, including $10.9bn for Intel, into government stakes in the companies. The senator for the state of Vermont announced his support on Wednesday.

President Trump intends for the US government to acquire a stake in Intel. This investment would mark deeper government involvement in the tech industry, amid Trump's push for domestic chip production.

Tulsi Gabbard told President Trump before her nomination that she had come to peace with serving as last director of national intelligence if eliminating the post was necessary to permanently reforming the sprawling intelligence community.

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.

Treasury Secretary Scott Bessent said the White House wouldn't try to flex its power with a stake in Intel.

The White House’s deliberations about taking a stake in Intel could upend the technology sector — and further redefine how Washington deals with business.