(NEXSTAR) - President Donald Trump says it is in the nation’s best interest for the federal government to own a 10% stake in Intel, one of the country’s largest technology companies.

The agreement converts billions of dollars in previously granted funds into equity, making the U.S. government a major shareholder in the semiconductor company.

“I wanna see Intel do well,” Trump said.

The deal is tied to the CHIPS and Science Act, a law designed to increase semiconductor manufacturing in the United States. President Trump has been a frequent critic of the law but said he pushed for this arrangement.

“Intel was a great company and it could be great again,” Trump said. “I think it would be good if we owned 10 percent of your company. He said we will make that deal.”

Economic experts say th

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