Intel stock

As part of the Biden Chips act, Intel was to receive $11.1 billion which included $5.7 billion in cash and the rest in grants. Trump intervened and instead purchased $8.9 billion in stock which included 433 million shares at $20.47 per share. Yesterday Intel stock closed at $62 meaning a paper profit to the US government of $10 billion. This purchase is not without controversy. Here is from Google AI. Whether the government's 9.9% non-voting stake in Intel constitutes "socialism" is a matter of political and economic debate. Critics label it a "step toward socialism" or [right-wing nationalization], while others, including supporters, argue it is pragmatic industrial policy and a form of [state capitalism] aimed at protecting strategic technology interests The average voter would see buying the stock as a better deal for the government than just handing out money, especially since it was non-voting stock.