<p>在刚刚爆出的消息中，彭博社报道特朗普政府可能会持有 <strong>英特尔</strong>(INTC -3.71%) 的 10% 股份——这一消息发布后，英特尔的股价反而下跌了 3.9%，截至东部时间下午 12:35。</p>
<p>这可能不是特朗普政府或英特尔本身所预期的反应。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mjk4MTAvY29uZ3Jlc3MtY2FwaXRvbC1oaWxsLXVuZGVyLWEtYmx1ZS1za3kuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mjk4MTAvY29uZ3Jlc3MtY2FwaXRvbC1oaWxsLXVuZGVyLWEtYmx1ZS1za3kuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<h2>100 亿美元，还是 10%？</h2>
<p>上周我们听到关于直接投资英特尔的传闻，而今天的消息似乎证实了这一点——或者至少证实了谈判正在进行。</p>
<p>彭博社报道，计划是政府将已经根据《芯片法案》授予英特尔的资金转化为对英特尔的政府持股。到目前为止，英特尔在该法案下已获得 109 亿美元的资金。以公司当前的 1033 亿美元市值计算，这大约占公司市值的 10%。</p>
<p>我怀疑，这正是英特尔今天股价下跌的原因，而不是上涨。如果英特尔已经获得了超过 100 亿美元的补助，而计划是再投资超过 100 亿美元以获得股份，那就另当别论——在投资者看来，这可能是件好事。</p>
<p>如果政府计划要求以已经授予的补助换取股份，并且可能根本不进行任何额外投资，那对英特尔来说就是坏消息。</p>
<h2>买入还是卖出半导体股票？</h2>
<p>这对其他半导体股票的投资者来说也不会是好消息。无论如何，给予政府在英特尔成功中的股份，也将使政府有兴趣确保英特尔的成功——可能会以 <strong>Nvidia</strong> 和 <strong>AMD</strong> 等竞争对手的利益为代价。</p>
<p>今天对英特尔来说的坏消息，结果可能对很多投资者来说都是坏消息。</p>

英特尔

<p>英特尔的股票在有报道称特朗普政府可能收购该公司 10% 股份后下跌了 3.9%。政府计划将根据《芯片法案》授予英特尔的 109 亿美元转化为股权，这一举动被投资者视为负面信号。这一举措暗示没有额外投资，令市场对英特尔的未来产生担忧，并可能影响其他半导体股票，如英伟达和 AMD</p>

<p>In a just-breaking development, Bloomberg reports the Trump administration may take a 10% stake in <strong>Intel</strong>(INTC -3.71%) -- which perversely is down 3.9% on the news, at least as of 12:35 p.m. ET.</p>
<div class="lb-trans"><p>在刚刚爆出的消息中，彭博社报道特朗普政府可能会持有 <strong>英特尔</strong>(INTC -3.71%) 的 10% 股份——这一消息发布后，英特尔的股价反而下跌了 3.9%，截至东部时间下午 12:35。</p>
</div><p>Probably not the reaction that either the Trump administration or Intel itself anticipated.</p>
<div class="lb-trans"><p>这可能不是特朗普政府或英特尔本身所预期的反应。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mjk4MTAvY29uZ3Jlc3MtY2FwaXRvbC1oaWxsLXVuZGVyLWEtYmx1ZS1za3kuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F829810%2Fcongress-capitol-hill-under-a-blue-sky.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>$10 billion, or 10%?</h2>
<div class="lb-trans"><h2>100 亿美元，还是 10%？</h2>
</div><p>We heard rumors last week that a direct investment in Intel might be in the offing, and today's news seems to confirm this -- or at least confirm that talks are occurring.</p>
<div class="lb-trans"><p>上周我们听到关于直接投资英特尔的传闻，而今天的消息似乎证实了这一点——或者至少证实了谈判正在进行。</p>
</div><p>As Bloomberg reports, the plan is for the government to take money already awarded to Intel under the CHIPS Act and convert it into a government ownership stake in Intel. Intel has so far been awarded $10.9 billion under that act. At the company's current $103.3 billion market capitalization, that would work out to about 10% of the company's market cap.</p>
<div class="lb-trans"><p>彭博社报道，计划是政府将已经根据《芯片法案》授予英特尔的资金转化为对英特尔的政府持股。到目前为止，英特尔在该法案下已获得 109 亿美元的资金。以公司当前的 1033 亿美元市值计算，这大约占公司市值的 10%。</p>
</div><p>And that right there, I suspect, is why Intel stock is dropping today, not popping. If Intel had been awarded $10 billion-plus in grants already, and the plan was to invest $10 billion-plus <em>more</em> into Intel for an ownership stake, well, that's one thing -- and probably a good thing in the minds of investors.</p>
<div class="lb-trans"><p>我怀疑，这正是英特尔今天股价下跌的原因，而不是上涨。如果英特尔已经获得了超过 100 亿美元的补助，而计划是再投资超过 100 亿美元以获得股份，那就另当别论——在投资者看来，这可能是件好事。</p>
</div><p>If the government plans instead to demand shares for the grants it's already awarded, and maybe not make any additional investment at all, well, that's bad news for Intel.</p>
<div class="lb-trans"><p>如果政府计划要求以已经授予的补助换取股份，并且可能根本不进行任何额外投资，那对英特尔来说就是坏消息。</p>
</div><h2>Buy or sell semiconductor stocks?</h2>
<div class="lb-trans"><h2>买入还是卖出半导体股票？</h2>
</div><p>It wouldn't be great news for investors in other semiconductor stocks, either. However it comes about, giving the government a stake in Intel's success would also give the government an interest in ensuring Intel succeeds -- perhaps at the expense of rivals like <strong>Nvidia</strong> and <strong>AMD</strong>.</p>
<div class="lb-trans"><p>这对其他半导体股票的投资者来说也不会是好消息。无论如何，给予政府在英特尔成功中的股份，也将使政府有兴趣确保英特尔的成功——可能会以 <strong>Nvidia</strong> 和 <strong>AMD</strong> 等竞争对手的利益为代价。</p>
</div><p>Bad news for Intel today, it turns out, could be bad news for a whole lot of investors.</p>
<div class="lb-trans"><p>今天对英特尔来说的坏消息，结果可能对很多投资者来说都是坏消息。</p>
</div>

Why Is Intel Stock Down on Monday?

- 特朗普政府可能以 10% 的股份投资英特尔，市场反应不佳，股价下跌 3.9%。  
- 政府计划将已授予的 109 亿美元转为股份，可能影响投资者信心。  
- 政府持股可能影响英特尔与竞争对手的关系，给其他半导体股带来压力。  

为什么英特尔的股票在星期一出现下跌？