The U.S. federal government has pursued equity stakes in strategic sectors since 2025, converting CHIPS Act grants and defense funding into ownership positions, most notably a 9.9% passive stake in Intel for $8.9 billion in August 2025. This approach has expanded across roughly 35 companies through Commerce, Defense, Energy, and related agencies, targeting semiconductors, critical minerals, quantum computing, and defense suppliers to bolster domestic supply chains and national security. Recent additions include positions in MP Materials, GlobalFoundries, Lithium Americas, Trilogy Metals, Hertha Metals, and Elmet Group, with further activity signaled in rare earths and advanced materials. President Trump has referenced similar structures for AI firms such as OpenAI and Anthropic. Trader pricing on listed names reflects expectations of additional transactions before the December 31, 2026 resolution deadline, centered on companies tied to chips, defense, or critical inputs.