U.S. Commerce Secretary Howard Lutnick is looking into the federal government taking equity stakes in computer chip manufacturers that receive CHIPS Act funding to build factories in the country, two sources said.

The Trump administration is reportedly discussing a deal to take a 10% stake in Intel, which could potentially leverage Chips Act funding as part of the equity.

Owning the Means of Production The Trump administration’s push for a 10% equity stake in Intel (NASDAQ:INTC), leveraging $10.9 billion in CHIPS Act grants — $7.9 billion for domestic investments and $3 billion for defense microelectronics — has ignited debate.

U.S. Commerce Secretary Howard Lutnick is looking into the government taking equity stakes in Intel and other chipmakers in exchange for grants under the CHIPS Act, which aims to spur factory-building in the U.

Intel faces financial turbulence in 2025, seeking equity from SoftBank, institutional investors, and even the U.S. government as it undertakes a dramatic turnaround in the semiconductor race.

The back-to-back news items signal a public and private sector commitment to domestic semiconductor production and underscore Intel's importance.

The Trump administration is considering a plan to reallocate at least $2 billion from the CHIPS Act to fund critical minerals projects and boost Commerce Secretary Howard Lutnick's influence over the strategic sector,

Hoping to bolster Intel’s $28 billion project in central Ohio, President Donald Trump’s administration is considering requesting Intel stock in exchange

Lutnick just laughed it off, indignantly pointing out that “we were just giving away the money” under the previous terms of the CHIPS Act. But the legality of any equity stake would likely be challenged by both Intel shareholders and competitors in the industry, according to the Times.

Micron, TSMC, and more have also been awarded billions in subisidies The US government is considering taking a stake in Intel and other semiconductor companies that benefit from CHIPS Act funding, according to officials from the Trump administration.