The Trump administration is considering taking a stake in Intel Corp. to support the struggling chipmaker. The size of the potential investment is still unclear. INTC stock closed at $23.86, up 7.38% in regular trading and gained 4.48% in after-hours trading.

Intel plans to build a major chipmaking hub in Ohio, which has faced delays. President Trump called for the removal of Intel CEO Lip-Bu Tan due to concerns over his ties to China. The proposal for the U.S. government to fund a stake in Intel emerged from a recent meeting between Trump and Tan. Talks are ongoing, and any deal would strengthen Intel financially. Tan is expected to remain CEO despite tensions.

Read more at Nasdaq: Intel Shares Rise Amid Reports Of Potential U.S. Investment