By Obinna Uballa
United States President Donald Trump on Monday celebrated the United States government’s new 10% stake in Intel, framing it as the beginning of a strategy to boost U.S. jobs and wealth.
“I will make deals like that for our Country all day long,” Trump wrote on Truth Social. He dismissed critics as “stupid people” and insisted the move will bring “more money and jobs to the U.S.”
“I will also help those companies that make such lucrative deals with the United States,” he added. “I love seeing their stock price go up, making the USA RICHER, AND RICHER. More jobs for America!!! Who would not want to make deals like that?”
The White House had revealed on Friday that the United States government acquired a roughly $8.9 billion position in Intel, using a mix of CHIPS Act grant funding and additional allocations aimed at developing secure semiconductor production.
While unusual, analysts believe the deal signals a broader policy shift. White House economic adviser Kevin Hassett said the move aligns with Trump’s plan to create a sovereign wealth fund, a model used by resource-rich nations such as Norway and Saudi Arabia.
“The president has made it clear all the way back to the campaign, he thinks that in the end, it would be great if the U.S. could start to build up a sovereign wealth fund,” Hassett said Monday on CNBC’s Squawk Box. “So I’m sure that at some point there’ll be more transactions, if not in this industry then other industries.”
Recall that Trump had signed an order in February to establish the fund, which he envisions as a tool to back strategic investments. Norway currently manages the largest of such Sovereign Wealth funds globally, with about $1.8 trillion in assets, followed by China and several Gulf states.
Though the U.S. rarely takes direct stakes in private companies, it has precedent, say experts. During the 2008 financial crisis, the government took ownership positions in Fannie Mae and Freddie Mac. Hassett emphasized that the Intel deal isn’t about “picking winners and losers,” but about protecting critical supply chains.
“This is a very, very special circumstance because of the massive amount of CHIPS Act spending that was coming in,” Hassett said, noting the Trump administration’s push to onshore chip manufacturing will help reduce dependence on foreign suppliers.
