Donald Trump took a victory lap on Truth Social this week, celebrating Intel’s stock price climbing from around $20 to nearly $96. The post, which featured an AI-generated image, claimed the US had earned “hundreds of billions” from stocks and holdings under his administration.
The numbers backing the Intel trade specifically are real, even if the broader claim stretches credulity. The US government acquired a 9.9% stake in Intel back in August 2025, paying $8.9 billion at roughly $20.47 per share. With Intel closing at $95.80 on September 4, 2026, that 433.3 million-share position is now worth approximately $41.5 billion.
The trade that turned Uncle Sam into a chipmaker shareholder
A 368% gain in about 13 months is the kind of return that would make most hedge fund managers quietly retire. The unrealized profit on the Intel stake sits at approximately $32.6 billion, which is a staggering figure for what amounts to a single equity position held by a sovereign government.
Instead of routing money through grants, subsidized loans, or tax incentives, the administration took a direct ownership stake in one of America’s most storied chipmakers. When the government gives a company a grant, taxpayers foot the bill and hope for indirect returns through jobs and economic activity. When the government buys shares, taxpayers become investors with a direct financial upside.
