<div id="readability-page-1"><div><div>The idea of Washington owning a chunk of Intel Corp INTC sounds like satire—yet reports suggest the Trump administration is considering converting CHIPS Act grants into equity, potentially making the U.S. government the chipmaker's largest shareholder. Add SoftBank circling with a $2 billion check for Intel's foundry ambitions, and suddenly the world's most politically entangled semiconductor firm is at the center of a capital courtship.<ul> <li>Track INTC stock here.</li> </ul>For investors, this isn't just about Intel. The bigger question is who benefits—or bleeds—if Intel morphs from a laggard into a government-backed champion.Read Also: Trump Goes From Intel Critic To Cheerleader In Record Time: Tepper Saw It ComingOn the winners' list are equipment makers like Applied Materials Inc AMAT and Lam Research Corp LRCX. These companies would see consistent orders if Intel ramps U.S.-based capacity under government pressure. Specialty chemical providers like Entegris Inc ENTG could also enjoy spillover gains from a more localized supply chain.But there's another angle—collateral losers. Taiwan Semiconductor Manufacturing Co Ltd TSM could find itself undercut in U.S. government contracts, especially as Washington leans harder into reshoring. And Nvidia Corp NVDA, for all its AI dominance, could face a stronger Intel as it tries to claw relevance in GPUs and accelerators.The geopolitical kicker? If Intel becomes both a government pet project and a magnet for foreign capital like SoftBank's, expect Beijing to double down on China's homegrown fabs. For investors, that could fuel a fresh round of subsidies, retaliatory restrictions, and bifurcated tech ecosystems.In short: Intel may soon trade less on earnings whispers and more on geopolitics. Investors chasing the ripple effect should look not just at Intel's chart, but at its ecosystem's collateral beneficiaries and victims.<ul> <li>Intel’s White House Advantage: The Only Chip Giant Not Paying The China Tax</li> </ul>Image: Shutterstock</div></div></div>

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The Trump administration may convert CHIPS Act grants into equity, potentially making the U.S. government Intel's largest shareholder. This could benefit equipment makers like Applied Materials and Lam Research, while specialty chemical providers like Entegris may also gain. However, Taiwan Semiconductor Manufacturing and Nvidia could face challenges. The geopolitical implications suggest that Intel's performance may increasingly be influenced by government actions and foreign investments, leading to a bifurcated tech ecosystem.

- Reports indicate that the Trump administration is considering converting CHIPS Act grants into equity, potentially making the U.S. government Intel's largest shareholder.  
- Equipment makers like Applied Materials and Lam Research could benefit from increased orders if Intel expands U.S.-based capacity, while Taiwan Semiconductor Manufacturing may face challenges in U.S. contracts.  
- The geopolitical implications suggest that if Intel becomes a government-backed entity, it could lead to increased competition and subsidies in the semiconductor industry, particularly affecting China's tech ecosystem.  

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