Intel has warned in a Securities and Exchange Commission filing that the U.S. government’s new 10% equity stake could dilute existing shareholders, curb governance rights and expose the chipmaker to lawsuits, foreign-subsidy rules and other restrictions that may hurt its international sales. Overseas markets accounted for 76% of Intel’s revenue last year, the company said, adding that it is "difficult to foresee all the potential consequences" of the unprecedented arrangement. The stake, valued at roughly $9-11 billion, converts $11.1 billion in previously approved CHIPS Act grants and related funding into about 433 million Intel shares. While the Commerce Department will hold no board seat, it can vote on most shareholder matters. Fitch Ratings said the transaction improves liquidity but does not enhance Intel’s BBB credit profile or underlying chip demand. Investors and corporate-governance advocates fear the deal signals deeper U.S. involvement in private industry. Some Republican lawmakers called the move a step toward socialism, arguing that the CHIPS legislation was never intended to give Washington ownership positions. President Donald Trump defended the bargain as "zero-cost" to taxpayers and said he plans similar transactions, potentially targeting defense contractors. Intel’s board approved the share issuance despite cautious comments from new CEO Lip-Bu Tan that the company "didn’t need the money." SoftBank had already injected $2 billion into the manufacturer days earlier. Analysts say the agreement—coming after earlier White House interventions in mining and steel—marks a significant escalation of U.S. industrial policy and could pressure other semiconductor firms to weigh comparable offers.