The United States government will take a 10 percent stake in Intel under an agreement with the struggling chipmaker, President Donald Trump has said, marking the latest extraordinary intervention in corporate affairs.

Trump made the announcement on Friday. Intel, whose shares rose more than 6 percent, declined to comment.

The development follows a meeting between CEO Lip-Bu Tan and Trump earlier this month that was sparked by Trump’s demand for the Intel chief’s resignation over his ties to Chinese firms.

“He walked in wanting to keep his job and he ended up giving us $10bn for the United States,” Trump said on Friday.

The move marks a clear change of direction and also follows a $2bn capital injection from SoftBank Group in what was a major vote of confidence for the troubled US chi

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