Last fall, the Trump administration announced it was taking a 10% equity stake in Intel, a deal valued around $9 billion at the time. And while the Intel position has become the most prominent of the administration’s investments, it’s far from the only one. “We're tracking 37 deals since January 2025 involving equity or quasi-equity stakes,” said Jonathan Hillman, senior fellow at the Council on Foreign Relations. “The vast majority of them seem to be focused on strengthening supply chains, so areas like semiconductors, critical minerals, or helping the U.S. compete in emerging technologies like quantum computing.”Hillman is one of the architects behind the Council on Foreign Relation’s U.S. government deal tracker, which is currently following $27.6 billion worth of investments that the Trump White House has pumped into various businesses. But tracking all of those deals isn’t easy.“In terms of number, we've seen more private companies so far getting these stakes, and we haven't yet see any of those investments go public,” said Hillman. “And so, in these cases, we are really relying on the government and the companies themselves to share with us details about what has been agreed to. It's a little bit like investigative work.”“Marketplace” host Kai Ryssdal spoke with Hillman about the tracker. To listen, use the media player above.