The Trump administration is reportedly exploring the idea of acquiring a partial stake in Intel, with early talks suggesting the use of CHIPS Act funds for the move. Bloomberg sources indicate that upcoming CHIPS Act grants could be merged with other government funding to transform subsidies into equity-essentially making the U.S. 
government a shareholder in Intel. The plan, however, is far from straightforward.
Intel has recently become a political flashpoint, especially after CEO Lip-Bu Tan met with President Trump to discuss domestic semiconductor manufacturing projects like the Ohio fab facility. While the notion of federal investment sounds simple, such deals often require layers of legal and procedural approvals. In this case, the administration might need Congress to sign off on the funding, as setting up advanced chip plants costs billions of dollars.
Historical parallels, like the U.S. Treasury’s 2009 General Motors stake under the TARP bailout, show the complexity of such ventures. The GM case involved bankruptcy, restructuring, and congressional debate-conditions that don’t directly match Intel’s current situation, making a bailout-style deal unlikely. Another precedent, the Department of Defense’s smaller stake in MP Materials via Defense Production Act funds, bypassed Congress due to pre-approved authority. But Intel’s scale is much larger, making congressional involvement probable.
Supporters argue that U.S. national security depends on maintaining domestic advanced chipmaking capacity, just as Taiwan heavily supports TSMC. Critics, however, see this as corporate welfare for a company that has stumbled in recent years, questioning whether taxpayer dollars should rescue a giant like Intel when competitors like AMD and Nvidia thrive without such direct equity deals.
Whether this becomes a bipartisan push or a politically charged battle, one thing is clear: the path from idea to ownership stake will be long, intricate, and closely watched by both industry insiders and the public.