Intel said it received a $5.7 billion cash payment from the U.S. government on Wednesday as part of an agreement that would give Washington a 10 percent equity stake in the company. Finance chief David Zinsner disclosed the transfer at an investor conference, while the White House stressed that the deal is still being finalised by the Commerce Department. Under the draft terms, the government also secured a five-year warrant allowing it to buy a further 5 percent of Intel at $20 a share if the chipmaker’s holding in its contract-manufacturing arm falls below 51 percent. Zinsner said the clause is meant to deter a sale or spin-off of the lossmaking foundry business and predicted the warrant will lapse unused because Intel intends to retain control. In a regulatory filing, Intel warned that the government’s stake dilutes existing shareholders, reduces their voting power and could trigger legal challenges. The company also pointed to potential backlash from international customers and governments; overseas markets generated 76 percent of its $53.1 billion revenue in 2024. National Economic Council Director Kevin Hassett signalled that similar equity deals could be pursued with other semiconductor manufacturers, framing the Intel transaction as a "creative solution" to safeguard domestic chip production after sizeable CHIPS Act subsidies.