The U.S. government invested $8.9 billion in Intel, with the book value rising to $60 billion in nine months.

In August last year, Trump converted the original $8.9 billion CHIPS Act subsidy intended for Intel directly into a 9.9% stake in Intel, purchasing shares at $20.47 each.
This was almost unprecedented in U.S. history; the government did not rescue the market with bailout-style investments but used industrial policy to exchange for equity, actively becoming the largest single shareholder of a tech company.
After acquiring the stake, the government began to facilitate cooperation using this position, with Nvidia agreeing to collaborate with Intel on chip manufacturing, Elon Musk announcing the construction of TerraFab, claimed to be the world's largest chip factory, and Apple just signed an OEM agreement.
Behind these three collaborations, there are government shareholders driving the initiatives.
Intel's market value has grown from about $100 billion at that time to over $600 billion now, with the government’s book value of holdings around $60 billion and a book profit exceeding $50 billion.
This is not just a profitable deal; it also represents a new industrial policy logic: the government directly steps in as a shareholder, using equity to influence the strategic direction of private enterprises.
With all this background in mind, returning to today, Trump personally called for bids today, and with the market opening at a new high, it should be no problem, right? Haha 😂