The Trump administration and Intel Corp. are poised to announce details on Friday of an agreement to give the US government an equity stake in the chipmaker, people familiar with the plan say.

The Trump administration is in talks to take a 10% stake in Intel by converting some or all of the struggling company's Chips Act grants into equity, Bloomberg News reported, citing a White House official and other people familiar with the matter.

The exact details of the arrangement are still unclear, but U.S. Commerce Secretary Howard Lutnick said on Tuesday the government continued to work on the possibility of taking a 10% stake in Intel. The White House did not immediately respond to a Reuters request for comment while Intel declined to comment.