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.

Shares in Intel jumped by more than 7% on Thursday, following reports that the Trump administration is in talks to take a stake in the chipmaker. The reported deal would support the technology firm's plans to build a manufacturing hub in Ohio, according to Bloomberg, which reported that the size of the potential stake is not clear.

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.