Analysis: The Trump administration is exploring a "equity stake" approach to support key companies, with Intel as a typical example

BlockBeats News, May 18th, the Trump administration is forming a new model of corporate support: no longer relying solely on traditional bailouts, subsidies, or tax incentives, but directly holding equity in key American companies, especially focusing on industries related to national security such as semiconductors, critical minerals, and nuclear energy.

Reports indicate that over the past two years, the Trump administration has repeatedly used equity investment in American companies. Trump and Commerce Secretary Howard Lutnick's camp believe that this approach can not only help struggling American companies but may also provide a long-term return similar to venture capital for the U.S. Treasury.

Among them, Intel is seen as the most typical case. In August 2025, the Trump administration reached a special agreement with Intel, acquiring approximately 9.9% of the company's shares, worth about $10 billion. At that time, Intel was facing a decline in market share and high debt pressure.

In an interview with Fortune's Editor-in-Chief Alyson Shontell, Trump said Intel CEO Lip-Bu Tan personally visited the White House to meet with him, "I like him, I think he's great." The report pointed out that the Trump administration also held chips at the time, including unallocated chip subsidy funds. Since the transaction, Intel's stock price has risen significantly.

However, Fortune also mentioned that this model is controversial. Supporters believe that if the U.S. government can achieve high returns like a top VC, it may even help alleviate the budget deficit in the future; opponents, however, are concerned that direct government ownership may undermine free market principles and open the door to future executive branch intervention in corporate governance.

Furthermore, the article also noted that the continued growth in capital expenditures by U.S. tech giants on AI infrastructure is one of the key reasons why the U.S. stock market remains strong amid the backdrop of the Iran conflict and high oil prices.