The U.S. government finalized an agreement to acquire 433,323,000 shares of Intel common stock—about 9.9% of the company’s fully diluted shares—in exchange for the release of nearly $8.87 billion in previously awarded but undisbursed CHIPS and Science Act funds; the shares are non-voting and do not carry a board seat. Intel confirmed the structure, and officials framed the move as a bid to stabilize and retool a strategically important manufacturer. Market reaction was immediate: Intel stock rose roughly 5%–7% after the news. President Donald Trump called it “a great deal for them,” while Commerce Secretary Howard Lutnick cast the equity swap as a way to secure a direct taxpayer return from CHIPS incentives.