Intel shares jump after report says Trump administration looking at stake

Market value passes $104bn despite White House saying claims of talks to invest in factories are speculation'

Shares in Intel have jumped 7.4% after it was reported that the Trump administration is considering taking a stake in the struggling US chipmaker.

The potential investment, which would be paid for by the US government, would be used to develop Intel's factory hub in Ohio, according to Bloomberg. It would also help shore up the chipmaker's finances at a time when Intel has been slashing jobs as part of a wider cost-cutting drive.