WASHINGTON (AP) — President Donald Trump said that Intel has agreed to give the U.S. government a 10% stake in its business.

Speaking with reporters on Friday, Trump said the deal came out of a meeting last week with Intel CEO Lip Bu Tan — which came days after the president called for Tan to resign over his past ties to China.

“I said, I think it would be good having the United States as your partner,” Trump said. “He agreed, and they’ve agreed to do it.”

The official announcement is expected to come later Friday, according to a White House official who was not authorized to speak publicly ahead of an announcement and spoke on condition of anonymity.

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What’s happening?

The Trump administration has been in talks to secure a 10% stake in Intel in exchange for converting government grants that were pledged to Intel under President Joe Biden. If the deal is completed, the U.S. government would become one of Intel’s largest shareholders and blur the traditional lines separating the public sector and private sector in a country that remains the world’s largest economy.

Why would Trump do this?

In his second term, Trump has been leveraging his power to reprogram the operations of major computer chip companies. The administration is requiring Nvidia and Advanced Micro Devices, two companies whose chips are helping to power the craze around artificial intelligence, to pay a 15% commission on their sales of chips in China in exchange for export licenses.

Trump’s interest in Intel is also being driven by his desire to boost chip production in the U.S., which has been a focal point of the trade war that he has been waging throughout the world. By lessening the country’s dependence on chips manufactured overseas, the president believes the U.S. will be better positioned to maintain its technological lead on China in the race to create artificial intelligence.

Didn’t Trump want Intel’s CEO to quit?

That’s what the president said August 7 in an unequivocal post calling for Intel CEO Lip-Bu Tan to resign less than five months after the Santa Clara, California, company hired him. The demand was triggered by reports raising national security concerns about Tan’s past investments in Chinese tech companies while he was a venture capitalist. But Trump backed off after Tan professed his allegiance to the U.S. in a public letter to Intel employees and went to the White House to meet with the president, who applauded the Intel CEO for having an “amazing story.”

Why would Intel do a deal?

The company isn’t commenting about the possibility of the U.S. government becoming a major shareholder, but Intel may have little choice because it is currently dealing from a position of weakness. After enjoying decades of growth while its processors powered the personal computer boom, the company fell into a slump after missing the shift to the mobile computing era unleashed by the iPhone’s 2007 debut.

Intel has fallen even farther behind in recent years during an artificial intelligence craze that has been a boon for Nvidia and AMD. The company lost nearly $19 billion last year and another $3.7 billion in the first six months of this year, prompting Tan to undertake a cost-cutting spree. By the end of this year, Tan expects Intel to have about 75,000 workers, a 25% reduction from the end of last year.

Would this deal be unusual?

Although rare, it’s not unprecedented for the U.S. government to become a significant shareholder in a prominent company. One of the most notable instances occurred during the Great Recession in 2008 when the government injected nearly $50 billion into General Motors in return for a roughly 60% stake in the automaker at a time it was on the verge of bankruptcy. The government ended up with a roughly $10 billion loss after it sold its stock in GM.

Would the government run Intel?

U.S. Commerce Secretary Howard Lutnick told CNBC during a Tuesday interview that the government has no intention of meddling in Intel’s business, and will have its hands tied by holding non-voting shares in the company. But some analysts wonder if the Trump administration’s financial ties to Intel might prod more companies looking to curry favor with the president to increase their orders for the company’s chips.

What government grants does Intel receive?

Intel was among the biggest beneficiaries of the Biden administration’s CHIPS and Science Act, but it hasn’t been able to revive its fortunes while falling behind on construction projects spawned by the program.

The company has received about $2.2 billion of the $7.8 billion pledged under the incentives program — money that Lutnick derided as a “giveaway” that would better serve U.S. taxpayers if it’s turned into Intel stock. “We think America should get the benefit of the bar

By TRAVIS LOLLER, Associated Press

NASHVILLE, Tenn. (AP) — Kilmar Abrego Garcia was released from jail in Tennessee on Friday so he can rejoin his family in Maryland while awaiting trial on human smuggling charges.

The Salvadoran national’s case became a flashpoint in President Donald Trump’s immigration agenda after he was mistakenly deported in March. Facing a court order, the Trump administration brought him back to the U.S. in June, only to detain him on criminal charges.

Although Abrego Garcia was deemed eligible for pretrial release, he had remained in jail at the request of his attorneys, who feared the Republican administration could try to immediately deport him again if he were freed. Those fears were somewhat allayed by a recent ruling in a separate case, which requires immigration officials to allow Abrego Garcia time to mount a challenge to any deportation order.

FILE – Katheryn Millwee holds a portrait of Kilmar Abrego Garcia outside the federal courthouse on June 25, 2025, in Nashville, Tenn. (AP Photo/George Walker IV, File)

Earlier this week, Abrego Garcia’s criminal attorneys filed a motion asking the judge to dismiss the criminal case, claiming he is being prosecuted to punish him for challenging his removal to El Salvador.

Abrego Garcia has pleaded not guilty to the smuggling charges, which stem from a 2022 traffic stop in Tennessee for speeding. Body camera footage from a Tennessee Highway Patrol officer shows a calm exchange with Abrego Garcia. There were nine passengers in the car, and the officers discussed among themselves their suspicions of smuggling. However, Abrego Garcia was allowed to continue driving with only a warning.

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A Department of Homeland Security agent testified he did not begin investigating the traffic stop until this April, when the government was facing mounting pressure to return Abrego Garcia to the U.S.

Abrego Garcia, who had been held at the jail facility in Putnam County, has an American wife and children and has lived in Maryland for years, but he immigrated to the U.S. illegally. In 2019, an immigration judge denied his application for asylum but granted him protection from being deported back to El Salvador, where he faces a “well-founded fear” of violence, according to court filings. He was required to check in yearly with Immigration and Customs Enforcement while Homeland Security issued him a work permit.

Although Abrego Garcia can’t be deported to El Salvador without violating the judge’s order, Homeland Security officials have said they plan to deport him to an unnamed third country.

The Wild and center Marco Rossi have agreed to a three-year, $15 million contract extensions, the team announced Friday.

Rossi, 23, finished last season with career highs in goals (24) and points (60) while playing 82 regular season games, the second straight year Rossi has played every game.

His rookie contract expired at the end of last season. This one keeps him under team control through 2027-28.

Rossi and general manager Bill Guerin are scheduled to speak with reporters later this afternoon.

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WASHINGTON (AP) — The Justice Department on Friday released transcripts of interviews its No. 2 official did with Jeffrey Epstein’s imprisoned former girlfriend as the Trump administration scrambles to present itself as transparent amid a fierce backlash over an earlier refusal to disclose a trove of records from the sex-trafficking case.

The disclosure represents the latest Trump administration effort to repair self-inflicted political wounds after failing to deliver on expectations that its own officials had created through conspiracy theories and bold pronouncements that never came to pass. By making public two days worth of interviews, officials appear to be hoping to at least temporarily keep at bay sustained anger from President Donald Trump’s base even as they continue to sit on other evidence they had suggested was being prepared for public release.

Maxwell recalled knowing about Trump and possibly meeting him for the first time in 1990, when her newspaper magnate father, Robert Maxwell, was the owner of the New York Daily News.

“I may have met Donald Trump at that time, because my father was friendly with him and liked him very much,” Maxwell said, according to the transcript.

Maxwell said her father was fond of Trump’s then-wife, Ivana, “because she was also from Czechoslovakia, where my dad was from.”

This is a developing story; check back for updates.