What Intel needs is external customers for its 14A manufacturing process - a tough ask, at least in the short term.

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

The US investment in Intel is a rare example of the government taking a stake in a private company. INTC closed up on Friday but dipped after hours.

The back-to-back news items signal a public and private sector commitment to domestic semiconductor production and underscore Intel's importance.

The president is demanding government stakes in U.S. companies and cuts of their revenue. Experts see some similarities to state-managed capitalism in other parts of the world.

Liberal U.S. Senator Bernie Sanders on Wednesday threw his support behind President Donald Trump's plan to convert U.S. grants to chipmakers, including $10.9 billion for Intel, into government stakes in the companies.