Intel shares skyrocket following report Trump admin is mulling taking stake in chipmaker

The Trump administration is in talks with Intel to have the US government potentially take a stake in the chipmaker, Bloomberg News reported on Thursday, citing people familiar with the plan.

Shares of the company rose nearly 7%.

The plan stems from a meeting this week between President Trump and Intel CEO Lip-Bu Tan, the report added.

This comes after Trump publicly demanded the resignation of Tan over his past investments in Chinese tech companies, some linked to the Chinese military.

The White House and Intel did not immediately respond to requests for comment from Reuters.