Lutnick just laughed it off, indignantly pointing out that “we were just giving away the money” under the previous terms of the CHIPS Act. But the legality of any equity stake would likely be challenged by both Intel shareholders and competitors in the industry, according to the Times.

Commerce Secretary Howard Lutnick on Tuesday confirmed that the government wants Intel to cough up a 10% equity stake in exchange for nearly $8 billion in CHIPS Act funding approved by the Biden administration.

U.S. Commerce Secretary Howard Lutnick is said to be exploring how the U.S. can receive equity stakes in firms such as Micron, Taiwan Semiconductor Manufacturing Co. and Samsung.