The U.S. government has officially become the largest shareholder of Intel by converting subsidies into equity. Intel, facing technological lag and financial pressure, was forced to accept this arrangement in exchange for much-needed financial support. This move has raised concerns in the industry, as other chip companies receiving U.S. subsidies may face similar ‘equity swap’ demands, potentially leading to a long-term loss of technological sovereignty and export restrictions. Although the U.S. claims it does not interfere with company decisions, the inconsistency of its policies makes it difficult for companies to trust.