Overview

• President Donald Trump announced that the government plans to acquire a 10% stake in Intel, with administration officials saying the position would not carry voting rights.
• Treasury and Commerce officials said the stake would come from converting CHIPS Act subsidies into equity, framing it as a tool to stabilize U.S. chip manufacturing.
• Intel has not publicly confirmed a finalized deal, and analysts note the proposal would likely require board approval and could face legal challenges from shareholders.
• Reports place the value of the 10% holding at roughly $9–10 billion, and Intel shares rose about 5.5% after the announcement; SoftBank disclosed a separate $2 billion investment earlier in the week.
• The administration has linked export licenses for Nvidia and AMD to a 15% levy on China sales, and officials signaled the CHIPS-to-equity approach could be considered for other chipmakers such as TSMC, Samsung, and Micron.