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,

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