While Intel says the government is making an “$8.9 billion investment in Intel common stock,” the administration does not appear to be committing new funds.

Intel's statement followed remarks from Trump that Washington would gain a direct stake in the chipmaker under a new agreement.

President Donald Trump on Friday announced the U.S. government has secured a 10% stake in struggling Silicon Valley pioneer Intel in a deal completed just a couple weeks after he depicted the company’s CEO as a conflicted leader unfit for the job.