The U.S. government has become Intel Corp.’s largest shareholder after converting $8.9 billion in previously approved CHIPS and Science Act funding into a 9.9 percent, non-voting equity stake. Intel issued 433.3 million new shares to the Department of Commerce at $20.47 each and granted a five-year warrant that would let Washington lift its holding to 15 percent if the chipmaker spins off its foundry unit. Including $2.2 billion in earlier disbursements, public support for the company now totals about $11.1 billion. President Donald Trump called the deal a template for future transactions, saying the government "paid nothing" while adding that he intends to pursue similar arrangements "all day long." Commerce Secretary Howard Lutnick rejected accusations of industrial policy overreach, arguing that the move ensures taxpayers share in the upside of federal subsidies and strengthens domestic semiconductor capacity. Intel told investors the agreement could generate backlash from foreign governments and customers—76 percent of its 2024 sales were made overseas—and disclosed that political pressure might influence corporate decisions. The stock slipped about 0.2 percent in pre-market trading on Tuesday. Analysts described the infusion as a short-term liquidity boost but warned that government ownership could complicate shareholder activism and overseas expansion. Reaction in Washington has split traditional party lines. Republican Senators Rand Paul and Thom Tillis likened the arrangement to "a step toward socialism," while independent Senator Bernie Sanders welcomed taxpayers receiving a direct return on subsidies. Investor Kevin O’Leary called the plan a misuse of public funds, whereas some policy analysts said an equity stake is preferable to unconditional grants. The administration is already reviewing stakes in other sectors, with Lutnick confirming discussions about defense contractors and Minnesota-based foundry SkyWater touting its "all-American" credentials. The prospect of further government shareholdings signals a broader shift in how Washington may wield financial support to reshape strategically important industries.