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President Donald Trump said on Friday the U.S. would take a 10% stake in Intel under a deal with the struggling chipmaker and is planning more such moves, the latest extraordinary intervention by the White House in corporate America.
An official announcement on the arrangement is expected later in the day, a source familiar with the matter said.
The development follows a meeting between CEO Lip-Bu Tan and Trump earlier this month that was sparked by Trump’s demand for the Intel chief’s resignation over his ties to Chinese firms.
“He walked in wanting to…
