Trump Says He Should Have Sought More Than 9.9% of Intel as Stock Jumps 300%
Updated
Updated · CNBC · May 18
Trump Says He Should Have Sought More Than 9.9% of Intel as Stock Jumps 300%
2 articles · Updated · CNBC · May 18
Nine months after Washington took a 9.9% Intel stake, Donald Trump said he regretted not demanding more, recalling that he asked CEO Lip-Bu Tan for 10% ownership "for free" and later thought he should have asked for a bigger share.
The government converted $5.7 billion in unpaid CHIPS Act grants and $3.2 billion in other awards into equity after Intel's shares had slumped, turning the deal into a landmark state holding in the chipmaker.
Intel's stock has since risen more than 300%, with April its best month in 55 years on Nasdaq as CPU demand rebounded; Tan said data-center CPU demand now exceeds supply.
That recovery has been reinforced by reported new business, including a preliminary Apple manufacturing agreement and Elon Musk's plan to use future Intel chips for his $119 billion Terafab project.
Trump tied the episode to his broader industrial policy, arguing tariffs would have kept more chip business at Intel and saying the U.S. is still beating China on AI.
With deals from Apple and Tesla, can Intel’s foundry business truly challenge TSMC’s dominance in the AI era?
Is the 'CPU renaissance' driven by agentic AI a long-term industry shift or a temporary boom for chipmakers like Intel?
$40 Billion Windfall: How the U.S. Government’s Unprecedented Intel Investment Redefined Industrial Policy
Overview
In May 2026, the U.S. government’s bold move to buy a 9.9% stake in Intel for $8.9 billion, funded by redirected CHIPS Act grants and Secure Enclave program money, paid off with over $40 billion in unrealized gains as Intel’s stock soared to record highs. This investment, driven by a bipartisan push to secure domestic chip manufacturing, marked a shift in policy as the Trump administration insisted on equity in return for federal support. The government’s approach not only delivered strong financial returns but also set a new precedent for direct involvement in critical industries.