Overview

• The government purchased 433.3 million Intel shares at $20.47 each, using $5.7 billion in unpaid CHIPS grants and $3.2 billion from the Secure Enclave program.
• Intel describes the holding as passive with no board seat or special governance or information rights for the government.
• In newly disclosed risk factors, Intel says the stake could dilute shareholder voting power, complicate future transactions, limit access to new subsidies, and expose the company to litigation or political scrutiny.
• The White House signals it may pursue similar equity arrangements at other strategic firms, with Commerce Secretary Howard Lutnick saying potential moves in defense contractors are under discussion at the Pentagon.
• Intel shares fell about 1% at Monday’s close, with reports noting differing short‑term market reactions around the announcement.