The US government is in discussions to potentially take a partial ownership stake in Intel, according to an Aug. 18 report by Bloomberg. The deal could help accelerate the construction of Intel’s long-delayed semiconductor manufacturing plant in Ohio.

Intel Corporation (NASDAQ:INTC) is one of Wednesday’s worst performers. Intel Corp. saw its share prices drop by 6.99 percent on Wednesday to finish at $23.54 apiece over concerns about the US government’s increasing interference in private companies.

US Commerce Secretary Howard Lutnick said Tuesday that chipmaker Intel should give the government an equity stake in the company in exchange for grants earlier committed by former president Joe Biden's administration.

The billionaire investor often called Japan's Warren Buffett is making a huge bet on a legendary US firm. Shares jumped eight percent.