U.S. government sits on $26.5 billion gain from Intel stake, as shares surge 22%
CoinDesk·3h ago·Positive
What Happened
The U.S. government holds an unrealized $26.5 billion gain on its Intel stake following a 22% share price surge after the chipmaker reported stronger-than-expected first-quarter earnings. The government converted $8.9 billion in CHIPS Act grants into 433.3 million shares at $20.47 each in August, gaining 9.9% ownership. Intel's rally was driven by strong data center and AI segment growth of 22% to $5.1 billion.
Key Entities
U.S. governmentIntelCHIPS Act$26.5 billionData Center and AI segmentLip-Bu Tan