The semiconductor maker has struggled to keep up in the artificial intelligence boom with rivals such as Nvidia and AMD.

President Donald Trump said on Friday the U.S. would take a 10% stake in Intel under a deal with the struggling chipmaker that converts government grants into an equity share, the latest extraordinary intervention by the White House in corporate America.

President Donald Trump on Friday announced the U.S. government has secured a 10% stake in struggling Silicon Valley pioneer Intel in a deal completed just a couple weeks after he depicted the company’s CEO as a conflicted leader unfit for the job.