The Trump administration has expanded federal equity investments since early 2025, using CHIPS Act authorities, the Defense Production Act, and agency programs to acquire minority, non-controlling stakes or warrants in roughly 34 companies across semiconductors, critical minerals, quantum computing, and defense manufacturing, for a total exceeding $27 billion. Commerce and Pentagon actions have produced completed or binding deals in firms such as Intel, MP Materials, GlobalFoundries, and several quantum entities, while additional letters of intent and term sheets remain under negotiation. Traders assess probabilities for further positions by year-end 2026 based on national security priorities, supply-chain resilience efforts, and legislative developments including the Senate’s FY2027 defense authorization provisions that could formalize expanded equity authority. Resolution hinges on official announcements or signed binding agreements rather than preliminary discussions.