TBL Thinks: I Want You, Intel
Dear Readers,
It’s Thinking Time! This week, we cover the US government’s 10% equity stake in Intel and how this move was several years in the making. As of late August 2025, the US government is Intel’s biggest shareholder — existing government grants from the CHIPS Act were converted into this stake.
TBL Thinks is our way to summarize the most important paywalled, longer reads relevant to global macroeconomics, helping you cut through the noise. With that in mind, please enjoy.
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Everyone, Say Hello to Uncle Sam
It was announced in August that the government would make an investment of $8.9 billion in Intel common stock, with $5.7 billion of the investment funded in grants previously awarded, but not yet paid, to Intel under the U.S. CHIPS and Science Act and $3.2 billion awarded to the company as part of the Secure Enclave program, a program funding semiconductor manufacturing in the US. Intel has also already received $2.2 billion in CHIPS grants to date, bringing the government’s total investment to $11.1 billion.