U.S. Commerce Secretary Howard Lutnick on Tuesday confirmed the U.S. government is vying for a 10% stake in Silicon Valley pioneer Intel in an unusual deal that would deepen the Trump administration’s financial ties with major computer chip manufacturers and punctuate a dramatic about-face from the president’s recent push to oust the company’s CEO.

Major U.S. equities indexes were mixed Tuesday as tech sector losses weighed on their performance. The S&P 500 ended the session 0.6% lower, while the tech-heavy Nasdaq dropped 1.5%. The Dow held onto a fractional gain.

Intel is getting a $2 billion capital injection from SoftBank Group in a major vote of confidence for the troubled U.S. chipmaker in the middle of a turnaround.

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

SoftBank will invest $2 billion into Intel as the struggling chipmaker pulls back on spending and lays off thousands of workers. In an announcement, SoftBank CEO Masayoshi Son said the investment aligns with the firm’s belief that “advanced semiconductor manufacturing and supply will further expand in the United States.”

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The move is part of SoftBank's investing initiatives in the US, which also includes commitments towards AI computing. Intel, which has lagged behind in the chip race after being the erstwhile market leader,