Liberal U.S. Senator Bernie Sanders on Wednesday threw his support behind President Donald Trump's plan to convert U.S. grants to chipmakers, including $10.9 billion for Intel, into government stakes in the companies.

After the Trump administration confirmed a rumor that the US is planning to buy a 10 percent stake in Intel, US Senator Bernie Sanders (I-Vt.) came forward Wednesday to voice support for the highly unusual plan, finding rare common ground with Donald Trump.

Senator Bernie Sanders (I-VT) has backed the Trump administration's plan to pick up stakes in Intel (NASDAQ:INTC) and other chipmakers by converting U.S. grants awarded to them. "Taxpayers should not be providing billions of dollars in corporate welfare to large,