The Trump administration has expanded direct federal equity investments since January 2025, converting CHIPS Act grants and deploying Defense Production Act and other authorities to secure minority, non-controlling stakes in roughly 30-39 companies across semiconductors, critical minerals, quantum computing, and defense technologies, totaling around $27 billion. Recent actions include July 2026 letters of intent for additional semiconductor firms, May 2026 quantum computing awards, and positions in Intel, MP Materials, Lithium Americas, and a golden share in U.S. Steel tied to national-security reviews. Traders assess probabilities based on continued emphasis on domestic supply-chain resilience and economic statecraft through year-end 2026, with resolution hinging on official announcements of completed or binding equity acquisitions by December 31.