The US is investing $8.9 billion into Intel, but most of the funds come from money that the government was supposed to pay the embattled chipmaker anyway. In an announcement on Friday, Intel said the federal government will fund its investment using the remaining $5.7 billion in grants it hasn’t yet received under the Biden administration’s CHIPS Act, in addition to the $3.2 billion received as part of the Secure Enclave program.

President Donald Trump confirmed the investment during a press briefing before the formal announcement, saying Intel CEO Lip-Bu Tan agreed to give the government a 10 percent stake. Earlier this month, Trump called on Tan to resign over his ties to China, and today he positioned the deal as a way for the executive to “keep his job.”

Trump told reporters that he

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