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. Lutnick said the the stake would be a return on its “investment” in the struggling chipmaker.

White House press secretary Karoline Leavitt said on Tuesday that Russian President Vladimir Putin has promised to meet with Ukrainian President Volodymyr Zelenskyy.

Treasury Secretary Scott Bessent said the White House wouldn't try to flex its power with a stake in Intel.