The president equated the payment to 10% of the chipmaker’s value, saying he told its chief executive "it would be good having the United States as your partner" and "they've agreed to do it."

The U.S. government will take a 10% stake in Intel, President Donald Trump said Friday — an extraordinary step toward blending the public and private sectors. The president’s comments left much about the deal unclear, though, and Intel declined to comment on his assertion.

Intel has agreed to the U.S. government taking a stake in the chip maker, President Donald Trump said Friday, not long after he met with the company’s chief executive after initially calling for him to resign.

The move, which comes after a court-approved liquidation of Speciality Steel, is meant to preserve jobs and domestic manufacturing.

The British government said it will take control of a part of Liberty Steel, owned by commodities tycoon Sanjeev Gupta, after the business was placed into liquidation following a petition from its creditors on Thursday.

The UK's third-largest steelworks has been placed under government control, creating an uncertain future for nearly 1,500 workers in Rotherham and Sheffield. Insolvency courts granted a compulsory winding up order sought by creditors owed hundreds of millions of pounds by Speciality Steels UK (SSUK) – part of the metals empire of controversial tycoon Sanjeev Gupta.