The Trump administration is reportedly discussing a deal to take a 10% stake in Intel, which could potentially leverage Chips Act funding as part of the equity.

The Trump administration is considering taking a 10% stake in Intel by converting $10.9B in Chips Act grants into equity, a move that would make the U.S. government Intel’s largest shareholder and mark a major shift in how federal chip funding is deployed.

The government’s plan is under consideration just as SoftBank Group Corp. announced a surprise bet on Intel’s revival, agreeing to acquire a $2 billion stake in the company.