Chipmaker Intel has agreed to give the US government a 10-percent stake in its business, the company and President Donald Trump announced Friday.

The deal came after Trump’s administration said Intel should give Washington an equity stake in exchange for large grants committed when Joe Biden was president.

Under the agreement, the US government will receive 433.3 million shares of common stock, representing a 9.9 percent stake in the company, Intel said in a statement.

This amounts to an $8.9 billion investment, funded partially by $5.7 billion in grants awarded but not yet paid under the CHIPS and Science Act — a major law passed during Biden’s term that Trump has criticized.

The other $3.2 billion comes from an award to the company as part of the Secure Enclave program, Intel said.

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