Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick confirmed on Tuesday that the US government is considering an extraordinary investment in struggling chipmaker Intel. But they gave different answers about what the Trump administration sought to do with that stake.

After months of turbulence, Intel Corp. bulls are finally being rewarded for their patience. But the stock’s sudden rebound comes with a worrying side effect: a valuation so high its most recent precedent is from the dot-com era more than two decades ago.

Shares in the chip maker rose following news of SoftBank’s planned investment and a possible stake for the U.S. government.

Commerce Secretary Howard Lutnick confirmed discussions between the US and Intel Corp. for the government to take a stake in the chipmaker, casting the plan as a bid to convert Chips and Science Act grants into equity.

The stock closed nearly 7% higher Tuesday after Japan’s SoftBank (JP:9984) agreed to invest $2 billion in

Treasury Secretary Scott Bessent said the White House wouldn't try to flex its power with a stake in Intel.