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

President Donald Trump announced that his administration will be conducting a "major tariff investigation on furniture," completed within 50 days. After that, Trump vows an undetermined tariff rate will be implemented on furniture coming into America.

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

Intel shares were up about 6% on the day, adding to earlier gains after reports that President Trump is set to announce the U.S. government is taking a nearly 10% stake in troubled chipmaker. The investment would cap a two-week frenzy in Washington over the future of the company.