WSJ Opinion: Potomac Watch Does Trump Want Intel's Biggest Shareholder to Be... Uncle Sam?
Aug 19, 2025
Alicia Finley and Kim Strassel, both columnists for The Wall Street Journal, tackle the intriguing prospect of the U.S. government acquiring a 10% stake in Intel. They dive into the implications of this move, questioning the increasing intertwining of corporate America with government action. Discussions touch on Trump’s new strategies around export controls and subsidies, the risks of governmental influence over innovation, and the evolving GOP stance on free market principles. Their insights provoke a critical look at nationalization concerns in a rapidly changing economic landscape.
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Government May Become Intel's Biggest Shareholder
- The Trump administration is considering converting CHIPS Act grants into a 10% equity stake in Intel, potentially making the U.S. the largest shareholder.
- Alicia Finley notes this move is unprecedented and may exceed the administration's legal authority under the CHIPS Act.
Intel's Decline Has Deep Roots
- Intel's struggles stem from long-term strategic missteps and costly bets on U.S. foundries that hurt competitiveness.
- Alicia Finley highlights large recent losses and mass layoffs as context for seeking government support.
Subsidies Weaken Corporate Independence
- Corporate America has grown comfortable with federal subsidies, trading independence for access to federal funds.
- Kim Strassel argues this dependence fuels lobbying and reduces market-driven innovation.