Trump administration is taking equity stakes in key tech and strategic companies: The U.S. government became Intel’s largest shareholder ($9B in grants converted to 10% stake), secured profit-sharing from Nvidia’s China sales, and invested in MP Materials and U.S. Steel.

Deals involve conditions favoring Intel: Apple and Nvidia received tariff or export exemptions in exchange for buying Intel chips and collaborating with the company.

The author calls this “national socialism”: It centralizes power in Trump’s hands, shares downside risks with taxpayers while upside benefits go to government and select executives, contrasting with democratic socialism’s focus on taxing the wealthy for public services.

Quietly and without any fanfare, the Trump regime is becoming a shareholder or profit-sharer in an array of corporations thought to be critical to the nation’s security. 

For example, in one of the most remarkable turnarounds in corporate history, the U.S. chipmaker Intel’s shares have more than quadrupled in value since March 2025. The stock has surged 464 percent in the past 12 months, with the company hitting a market cap of $608.7 billion. 

A year ago, Intel was on life support. Many predicted its death. What happened?Intel’s rebirth is partly due to the AI boom, which requires huge quantities of computer chips known as CPUs, which are Intel’s specialty. 

But a far larger factor in Intel’s stunning resurgence has been the Trump regime’s direct interventions — not only into Intel but also into other tech corporations: Apple and the giant super-chip maker Nvidia. 

The Trump regime has justified this on grounds of national security. But it’s socialism because the downside risks are broadly shared by the public. 

Yet the upside the benefits go to the U.S.........

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