The US government is weighing a plan to take roughly a 10% equity stake in Intel by converting part of the company’s awards under the Chips and Science Act into stock

Less than two weeks after President Donald Trump called for the ouster of Intel Corp.’s Lip-Bu Tan, the company’s chief executive officer has a shot at securing billions of dollars in fresh capital that could help him turn around the troubled US chipmaker.

Intel shares are surging 6% in premarket trading Tuesday on news that Japan's SoftBank Group is making a $2 billion investment in the struggling U.S. chipmaker.

Intel shares fell 3.7% on Monday, after reports that Trump administration officials are talking about taking a 10% stake in the chip maker. The move would be part of a government effort to save the embattled company and boost semiconductor manufacturing in the U.

Shares of Intel (NASDAQ:INTC) were on track to snap six days of gains, as the stock fell more than 2.7% to $23.92 in Monday afternoon trade.  The chipmaker gained more than 23% in the last six trading sessions.