The Trump administration has taken ownership interests in dozens of private companies, representing a level of intervention in private enterprise that is well beyond what has been contemplated by recent presidents.The administration has justified its ventures into business ownership as necessary for national security and to compete in critical domains, such as artificial intelligence.Many of the deals in question have been brokered by Commerce Secretary Howard Lutnick using funds from the CHIPS and Science Act of 2022, which was meant to boost domestic production of semiconductors. Others have been executed with funding from the Department of War or other agencies.
There are five main categories of investments:
Critical minerals: The administration has invested in a number of companies to boost domestic production of critical minerals and end China’s stranglehold on the supply chain.
Semiconductor and chip companies: The administration has intervened in the private sector to increase the domestic supply of inputs necessary to win the AI race.
Quantum computing.
