The White House confirmed on Tuesday that the Trump administration is working on a deal that could see the US government taking a 10% stake in chip giant Intel. "The president wants to put America's needs first, both from a national security and economic perspective," White House press secretary Karoline Leavitt told reporters.

The Trump administration is in talks for the federal government to take a 10% equity stake in the troubled chipmaker company Intel, White House officials confirmed.

Analysts say federal backing could give Intel more room to revitalize its loss-making foundry business.

U.S. Commerce Secretary Howard Lutnick on Tuesday confirmed the U.S. government is vying for a 10% stake in Silicon Valley pioneer Intel in an unusual deal that would deepen the Trump administration’...