Overview

• Intel said the U.S. purchased 433.3 million common shares at $20.47 each, funded by $5.7 billion in CHIPS commitments and $3.2 billion from the Secure Enclave program.
• The company described the holding as passive with no governance or information rights, and said the government agreed to vote with Intel’s board on most shareholder matters.
• The disclosure contrasts with earlier comments from Commerce Secretary Howard Lutnick that the stake would be non‑voting, highlighting unresolved questions about voting arrangements.
• Intel shares rose roughly 5%–7% after the announcement, which follows SoftBank’s $2 billion investment and adds to total U.S. support of about $11.1 billion.
• The move marks a rare federal ownership position in a major tech firm and fits a broader industrial policy push that has included revenue‑sharing agreements with Nvidia and AMD and a golden‑share approach in other deals.