President Donald Trump's announcement that the U.S. government now holds a 10% stake in Intel, valued at $11 billion, has sparked sharp debate, with economist Peter Schiff calling it unconstitutional and a threat to free-market capitalism,

The Silicon Valley tech giant, which has a new leader, has lagged behind its rivals during the AI boom and is slashing costs.

Former Vice President Mike Pence expressed concerns about the US government taking an equity stake in Intel Corp. and a cut of Nvidia Corp.’s AI chip sales to China.

Commerce Secretary Howard Lutnick told CNBC the U.S. government wants a stake in Intel in exchange for CHIPS Act grant money promised under Biden.

Target names a new CEO and posts quarterly earnings that beat analysts’ forecasts, while Palantir extends losses into a sixth-straight session.

The Silicon Valley chipmaker’s journey from icon to a government project, with the sale of a 10 percent stake to the Trump administration, underlines how even the mightiest in tech can fall.

Intel ( INTC) was the best-performing stock in the S&P 500 when Japan's SoftBank Group made a $2 billion investment in the struggling chipmaker.

But Nvidia is well ahead in the AI game, already evolving to a more sophisticated H200 and the new Blackwell platform later this year. AMD and Intel may have plenty of catching up to do.

The White House is pushing for a stake in embattled chipmaker Intel after making deals with Nvidia and AMD to sell chips to China for a 15% cut.