Commerce Department working on 10% Intel stake deal, White House says

WASHINGTON, Aug 19 (Reuters) - The Commerce Department is continuing to work on the prospect of the U.S. government taking a 10% stake in Intel INTC.O, the White House said on Tuesday, adding that U.S. Commerce Secretary Howard Lutnick is "ironing out the details."

"The President wants to put America's needs first, both from a national security and economic perspective, and it's a creative idea that has never been done," White House spokeswoman Karoline Leavitt told reporters at a press briefing.