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In the past, the federal government has taken stakes in American companies during wars or economic crises. But now the government's motivation has more to do with the race for AI chips and technology.

While free market conservatives and progressive said the Intel deal violates basics of capitalism, Ohio鈥檚 Republican U.S. senators are praising it.

Trump said the deal came out of a meeting last week with Intel CEO Lip Bu Tan.

Less than a week after demanding his resignation, President Donald Trump is now calling the career of Intel鈥檚 CEO an 鈥渁mazing story.鈥�

Intel CEO Lip-Bu Tan said he鈥檚 鈥渁lways operated within the highest legal and ethical standards鈥� after President Donald Trump and Ohio U.S. Senator Bernie Moreno said he should resign.

President Donald Trump and U.S. Sen. Bernie Moreno of Ohio posted on social media that want Intel CEO Lip-Bu Tan to immediately resign after a report Wednesday that mentioned alleged ties to China.

The hits keep coming for Intel, as the company works to rebound from financial losses.

Intel was originally supposed to start production on the plants this year. The facilities are expected to bring 3,000 jobs to the community.

State and local officials are reacting to Intel's announcement that the company was slowing construction on its $28 billion New Albany project in Licking County.

Intel CEO Lip-Bu Tan made the announcement in a note to employees on the company's second-quarter earnings.