In an SEC filing, the chipmaker said the deal could cost it sales and open it up to backlash from other countries, business partners and even its own employees.

Key Takeaways President Donald Trump says he's looking to make more deals like the one he announced last week with Intel. The deal has been generally seen as positive for Intel, though some Wall Street analysts warned a similar arrangement might have less appeal for companies on more solid footing.

The Trump administration has converted CHIPS Act funding for Intel into an equity stake in the company, shifting industry procurement dynamics.