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.

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.