Economist Podcasts Stake and chips: will America take 10% of Intel?
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Aug 21, 2025 
Shalash Chitness, a global business writer for The Economist, and Claire McHugh, a Latin America expert, engage in a riveting discussion. They tackle Intel’s struggles in the semiconductor market, highlighting government interest in potentially becoming a major shareholder. The conversation takes a dark turn as they explore the political turbulence in Colombia following a political assassination. Lastly, they lighten the mood with a quirky look at the annual snail racing championship in rural England, showcasing both tradition and humor.
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US May Become Intel's Largest Shareholder
- The US is negotiating to convert subsidies into a roughly 10% equity stake in Intel, potentially making the government its largest shareholder.
- The move reflects strategic concern about securing domestic capacity for cutting-edge chips amid global supply risks.
Intel's Decline In Numbers
- Intel's revenues fell nearly a third since 2021 and its market cap lags peers like NVIDIA and TSMC by large margins.
- The company swung from large profits to heavy losses, illustrating a dramatic decline in competitiveness.
Missed Shifts Crippled Intel
- Intel missed major industry shifts: smartphones, advanced lithography, and AI chips, allowing rivals like ARM, TSMC and NVIDIA to dominate.
- Multiple sequential strategic errors compounded into near‑insurmountable competitive gaps.