The U.S. government has invested approximately $30 billion in equity stakes in companies. It has taken stakes in more than 40 firms, marking a significant shift in national industrial policy.
The strategy aims to strengthen domestic supply chains and national security in critical sectors, including semiconductors, quantum computing and critical minerals. The campaign has been largely carried out under the CHIPS and Science Act.
The campaign includes 14 deals in the chip sector and 16 in metals and minerals. Quantum computing accounts for nine deals. The government typically takes minority, non-controlling stakes.
The government took a nearly 10% stake in Intel. The investment was worth about $8.9 billion. It also committed $1 billion to an IBM quantum facility and invested $400 million in rare-earth producer MP Materials.