Intel Chief Executive Officer Chen Liwu sought U.S. approval for a secondary stock offering, Semafor reported on August 11. The Trump administration decided not to take part in the transaction, while U.S. Commerce Secretary Lutnick approved the idea of the company's secondary issuance. A secondary stock sale typically involves the sale of existing shares rather than the creation of new equity, making official backing politically and strategically notable when a major U.S. chipmaker is involved.