Intel, a fallen Silicon Valley icon trying to restore its reputation as America’s most prominent semiconductor company, is working with the Trump administration on a plan to turn over the operation of its chip-making plants to a giant Taiwanese rival.

The White House is currently in the process of reviewing and renegotiating the U.S. CHIPS and Science Act awards, according to Reuters, citing two sources familiar with the matter. The administration is looking at projects that were awarded under the 2022 law,