Why it’s on the map
Only US-owned leading-edge foundry; Section 232 chip tariffs + Taiwan-deal formula push foundry customers to US fabs.
Government money & contracts
US government 9.9% equity stake (about 433M shares) plus a 5-yr warrant for 5% (about 218M sh) at $20, converted from $8.9B CHIPS grants — stake now worth about $40B; $3.2B Secure Enclave.
Customers & commercial
Foundry customers (18A/14A unproven).
Catalysts
Q3 late Oct; foundry wins.
Risk
TTM net loss $11.3B; Ohio fab delayed to 2030+; government as largest shareholder.
Tariff durability
State-backed champion; weakest fundamentals.
Dividend
None
Suspended in 2024
Intel does not currently pay a dividend — the last regular payment was Sept 1, 2024. The trade here is the move, not the check. See the names that do pay →