Intel shares rose nearly 4% on Friday on hopes of more financial aid for the turnaround of the struggling chipmaker after a report that the U.S. government may buy a stake.

Why: The fresh momentum follows a report that the US government could take a stake in the company. Bloomberg reported that plans came about after a meeting between President Donald Trump and Intel CEO Lip-Bu Tan. Details are still being assessed but sources said that the US government plans on paying for a stake in the company.

The Trump administration is in preliminary discussions to acquire an equity stake in former Apple chip supplier Intel, a move aimed at