In a just-breaking development, Bloomberg reports the Trump administration may take a 10% stake in Intel ( INTC -3.71%) -- which perversely is down 3.9% on the news, at least as of 12:35 p.m. ET. Probably not the reaction that either the Trump administration or Intel itself anticipated.

Intel Corp. shares jumped in after-hours trading Monday after the chipmaker announced a $2 billion investment by Japan’s SoftBank Group Corp.

Intel stock was rising on the investment from SoftBank, which could bring a major chip-manufacturing customer alongside an injection of funds.

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Softbank owns a majority stake in Arm. Arm-based chips dominate the smartphone market, and they're starting to compete with Intel in PCs and servers as well. Arm doesn't sell chips directly, instead licensing its designs and intellectual property to companies including Apple, Nvidia, Qualcomm, and many others.

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Shares of Intel (NASDAQ: INTC) are falling on Wednesday, down 7% as of 12:14 p.m. ET. The drop comes as the S&P 500 and Nasdaq Composite fell 0.4% and 1%, respectively. The struggling chipmaker's stock is sliding as investors await the U.S. government's decision over whether to take an equity stake in the company.

The development is part of a commitment from both sides to invest in advanced technology and semiconductor innovation in the U.S.