SoftBank Group has agreed to invest $2 billion in embattled chip maker Intel, a boost from the private sector that coincides with a government rescue effort.Trump administration officials are discussing taking a 10% stake in Intel in a bid to revive the company’s fortunes and bolster semiconductor manufacturing in the U.

The Trump administration appears to be in serious discussions about converting up to US$10.9 billion (A$16.4 billion) in CHIPS Act grants into equity in Intel. That would give Washington a 10% stake and make it the chipmaker’s largest shareholder.

The Trump administration has launched their own “Manhattan Project,” as reports have suggested one of America's largest chipmakers could be partly nationalized