Commerce Secretary Howard Lutnick on Tuesday confirmed that the government wants Intel to cough up a 10% equity stake in exchange for nearly $8 billion in CHIPS Act funding approved by the Biden administration.

Lutnick said the the stake would be a return on its “investment” in the struggling chipmaker.

“We should get an equity stake for our money,” Lutnick told CNBC’s “Squawk on the Street.” 3

“So we’ll deliver the money, which was already committed under the Biden administration. We’ll get equity in return for it.”

The government does not want control of the company, he added.

Lutnick’s comments came on the heels of a report Monday that President Trump was seeking a 10% stake in the company.

“The president wants to put America’s needs first, both from a national security an

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