US weighs taking stake in Intel, Bloomberg News reports

The Trump administration is in talks with Intel (INTC.O), opens new tab to have the U.S. government potentially take a stake in the struggling chipmaker, Bloomberg News reported on Thursday, citing people familiar with the plan.

Intel’s shares surged over 7% in regular trading and then another 2.6% after the bell.

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