Intel stock popped on Friday on a report the US government could take a stake in the ailing chip company.

By Rashika Singh and Arsheeya Bajwa (Reuters) -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.

The Trump administration is reportedly considering having the US government take a stake in Intel, a company that was once one of America’s most important tech giants but which has since fallen on hard times.