President Donald Trump is happy to take credit for Intel Corporation's (INTC) recent comeback story, but he's not exactly rushing to put more chips on the table.
Speaking to reporters Tuesday at Joint Base Andrews in Maryland, Trump said his administration's assistance helped Intel's valuation soar and attracted major tech players to invest in the struggling chipmaker. When asked if he'd invest more in Intel, though? "I don't know about Intel but I'll invest more in other things," Trump said.
It's a telling comment given how much the administration has already put into Intel. Back in August, the U.S. government acquired a 10% stake in the company through an $8.9 billion investment tied to CHIPS Act funding. That makes Uncle Sam Intel's largest shareholder, which is both a vote of confidence and a pretty significant commitment.
Trump pointed to Intel's success in attracting other big names, saying Apple Inc. (AAPL) and Nvidia Corporation (NVDA) "went in." He also hinted at other potential investment targets, adding: "We have some other ones that we're looking at."
The Intel Playbook: Alaska Edition
Trump compared the Intel situation to a deal in Alaska, specifically the Ambler Road Project. In that arrangement from October, the U.S. acquired a significant stake in a company in exchange for helping build infrastructure that would unlock mineral resources in the region. The implication? This equity-for-assistance model might become a signature move.
Earlier this month, Trump praised Intel CEO Lip-Bu Tan on Truth Social, reiterating the government's stake in the company. It's clear the administration sees Intel as a strategic win, even if the president himself isn't personally bullish enough to recommend more investment.
Money Pouring Into Intel's AI Push
Whether Trump wants to invest more or not, other players certainly do. Intel's AI initiatives got a massive boost when Nvidia committed $5 billion as part of Intel's AI reset strategy. The company is trying to position itself as a serious contender in artificial intelligence after years of losing ground to competitors.
On top of the Nvidia money, Intel secured a separate $2 billion commitment from SoftBank Group (SFTBY). That's a lot of confidence from two companies that know a thing or two about where tech is heading.
As for Apple, reports from Bloomberg indicate Intel approached the iPhone maker back in September to discuss a potential investment. Nothing concrete has materialized yet, but Apple has reportedly signed a non-disclosure agreement to explore Intel's advanced "18A" chip manufacturing process. Speculation is building that Apple might outsource production of entry-level M-series chips to Intel by 2027, which would be a significant win for Intel's foundry business.