President Donald Trump announced on Friday that the US government would acquire a 10% stake in Intel. This move marks a direct and unprecedented intervention by the government in a major national industrial group that is in difficulty. Following the announcement, Intel's share price rose by over 6% on the stockmarket.
This decision comes a few weeks after Donald Trump demanded the resignation of Intel's new CEO, Lip-Bu Tan, due to his ties with China, which were deemed problematic. It also follows a $2bn investment by SoftBank, seen as a sign of confidence in the group's ability to recover. Federal support should provide some respite for the foundry business, which has been making losses for several quarters now.
Despite this support, Intel still faces major obstacles. Its technology roadmap is considered fragile, and its difficulties in attracting customers for its new factories are weighing on its prospects. The company, which has not generated positive free cash flow since 2021, posted an historic loss of $18.8bn in 2024, its first since 1986.
This acquisition is part of a series of initiatives led by Donald Trump to strengthen US industrial independence. The president has already supported strategic projects in semiconductors and rare earths, notably in partnership with Nvidia and MP Materials, to secure resources deemed critical to the country's technological sovereignty.
Intel Corporation is the world leading manufacturer of semiconductor. Net sales break down by family of products and services as follows:
- computing architectures products (69.6%): processors and microprocessors (Pentium, Intel Xeon brands, etc.), graphics cards, chips and motherboards, connectivity products, cellular modems, Ethernet controllers, network components, storage products, etc. for PCs, servers, data centers, cloud networks, workstations, notebooks, Internet of Things, graphics architectures, intelligent peripherals and communications infrastructures. The group also develops associated software;
- wafer manufacturing services (25%): accelerators, monolithic chips, silicon wafers, etc. The group also offers chiplet software and mask manufacturing equipment for advanced lithography;
- other (5.4%).
Net sales (including intragroup) are distributed geographically as follows: the United States (24.5%), China (29.2%), Singapore (19.2%), Taiwan (14.7%) and others (12.4%).
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