A Tense Alliance: Intel and the U.S. Government's Stake
In a move that has been widely described as an unprecedented intervention in the private sector, the U.S. government, under President Donald Trump, has acquired a 10% stake in the chipmaker Intel. This agreement, announced last Friday, converts previously committed government grants into a significant equity holding, raising a new set of questions about the company's existing relationships with sanctioned Chinese firms.
The new government involvement comes at a time when Intel's ties to certain Chinese technology companies are under scrutiny. Forbes has reported on little-known partnerships between Intel and several Chinese surveillance firms, some of which are on the U.S. sanctions list.
Partnerships with Sanctioned Companies
Before the deal with the U.S. government, Intel's website and promotional materials referenced partnerships with companies like Uniview and Hikvision. Both firms have been sanctioned by the U.S. government for allegedly enabling human rights abuses through high-tech surveillance, particularly targeting the Uyghur population and other minorities in China.
Hikvision, a major surveillance camera manufacturer, enthusiastically described its "deep cooperation with Intel" in promotional materials, detailing how Intel's technology is integrated into its surveillance products.
Uniview, also on the U.S. sanctions list, is identified on Intel's website as a "titanium member partner" and is promoted for its "Smart City Solution" that uses Intel technology for surveillance.
Cloudwalk, a facial recognition company sanctioned in 2021, also used Intel's Atom processor in its smart cameras, as highlighted on Intel's site.
These collaborations appear to be in direct conflict with Intel's own Corporate Human Rights Principles, which state that the company "does not support or tolerate our products being used to negatively impact human rights." A spokesperson for Intel did not deny these partnerships but stated that the company is committed to complying with all relevant laws and regulations.
The Government's New Role and Future Risks
The government's new 10% stake—funded by a conversion of $11.1 billion in grants from the CHIPS Act and other programs—places it as one of Intel's largest shareholders. While Intel has stated the government's investment is passive, with no voting rights or board representation, the move still carries risks.
In a recent SEC filing, Intel warned that the government's ownership could lead to "adverse reactions" from investors, customers, and foreign governments. This is a significant concern for a company that generated 76% of its sales outside the U.S. in 2024, with China being its largest market. The deal could also open Intel up to additional regulations or foreign subsidy laws in other countries, potentially impacting its international sales.
This historic government intervention has been met with mixed reactions. While it is seen by some as a necessary step to strengthen U.S. technology and national security, others view it as an unprecedented entanglement of politics and private industry. The deal follows a dramatic reversal from President Trump, who weeks earlier had called for the resignation of Intel's CEO, Lip-Bu Tan, over his past ties to Chinese firms.
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