The White House confirmed on Tuesday that the Trump administration is working on a deal that could see the US government taking a 10% stake in chip giant Intel. "The president wants to put America's needs first, both from a national security and economic perspective," White House press secretary Karoline Leavitt told reporters.

The White House on Tuesday said it was “ironing out the details” of a deal that would entail the US government taking a 10 per cent stake in struggling US chipmaker Intel.

SoftBank is investing $2 billion in Intel, even as the White House is considering taking a 10% stake in chipmaker per reports, as talks with the company and Trump's team advance.

The U.S. chipmaker has struggled to keep pace in the AI market alongside competitors like Nvidia. Softbank has agreed to buy Intel common stock at $23 per share.

Bloomberg’s Caroline Hyde discusses potential plans by the US government to take a stake of about 10% in Intel as SoftBank buys into the chipmaker. Plus Palo Alto Networks CEO Nikesh Arora discusses the company’s growth plans.