New Delhi, Aug. 15 -- Shares of Intel jumped on Friday after a report claimed that the Donald Trump administration is mulling a stake purchase in the US chipmaking company that has been facing struggles in the recent time.

A Bloomberg report, which came shortly after US President Donald Trump met Intel CEO Lip-Bu Tan, said that the US government would pay for the development of Intel's factory in Ohio.

Investors cheered on the news and the stock price hit a high of as much as 8.9 per cent on Thursday before closing 7.4% higher at the end of trading at $23.86.

The Intel shares continued their upward movement on hopes of more financial aid for the turnaround of the struggling chipmaker, rising 4 per cent on Friday.

The Ohio plant of Int...