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.

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.

Government Stake in Intel Sparks Surge Reports yesterday that the Trump administration is exploring a potential equity stake in Intel (NASDAQ:INTC), a move that could significantly reshape U.S. semiconductor policy,