Intel, AMD, Micron surge on report of government cash support

Three of America’s biggest chipmakers got a collective jolt after reports surfaced that government funding from the CHIPS Act is accelerating. Intel, Micron, and AMD all moved higher, though the details behind each company’s boost tell very different stories. The most dramatic development belongs to Intel, which is restructuring its CHIPS Act awards in a way that gives the US government an equity stake of roughly 9.9% to 10% in the company. That translates to approximately 433 million shares at a purchase price of around $20.47 per share, valuing the government’s position at about $8.9 billion. Uncle Sam becomes a chipmaker shareholder The Trump administration has pivoted toward equity stakes instead of straightforward grants, effectively turning the US government into a part-owner of one of the country’s most storied technology companies. The deal is expected to close somewhere between late August 2025 and 2026. By April 2026, the Commerce Department had already disbursed $13.1 billion of the $31.2 billion in direct CHIPS awards allocated so far, with Intel ranking among the largest recipients. Micron bets big on memory Micron’s story is more straightforward but no less ambitious....