Overview

• Commerce Secretary Howard Lutnick said the United States now owns about 10% of Intel, with the company noting the government will have no board seat, management role, or special information rights and will generally vote with the board.
• The government acquired 433.3 million shares at $20.47 each using $5.7 billion in unused CHIPS Act grants and $3.2 billion from Intel’s Secure-Enclave program, a price below the prior market close.
• Including $2.2 billion in earlier CHIPS grants, total U.S. support tied to Intel rises to roughly $11.1 billion, alongside a separate $2 billion investment committed by SoftBank.
• The stake follows President Trump’s August 11 meeting with CEO Lip-Bu Tan, after which Trump said he suggested the United States should receive ten percent of Intel.
• The move extends a broader strategy of taking financial positions or rights in strategic firms, reflected in the Nvidia China export revenue-share arrangement, the Pentagon’s planned stake in MP Materials, and a golden-share provision in the U.S. Steel deal.