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.

President Trump revealed that the US has acquired a nearly 10% stake in Intel, involving an $8.9 billion investment in the chipmaker. The investment comprises $5.7 billion from the CHIPS Act and $3.2 billion from the Defense Department's Secure Enclave program,

SAN FRANCISCO, Aug 23 (Reuters) - U.S. President Donald Trump is injecting nearly $9 billion into Intel (INTC.O) in exchange for a 9.9% equity stake. But the money - which the struggling chipmaker was slated to receive anyway under a federal funding act - will not be enough for its contract-chipmaking business to flourish, analysts said.