By Jaspreet Singh, Max A. Cherney and Sayantani Ghosh SAN FRANCISCO (Reuters) -U.S. President Donald Trump is injecting nearly $9 billion into Intel in exchange for a 9.9% equity stake. But the money - which the struggling chipmaker was slated to receive anyway under a federal funding act - will not be enough for its contract-chipmaking business to flourish,

President Donald Trump said Friday that Intel will give the U.S. government a 10% stake in the company, an agreement he said followed a meeting last week with CEO Lip-Bu Tan — just days after Trump had called for Tan's resignation over his past ties to China.

President Donald Trump on Friday announced the U.S. government has secured a 10% stake in struggling Silicon Valley pioneer Intel in a deal completed just a couple weeks after he depicted the company’s CEO as a conflicted leader unfit for the job.