The survey comes as the Trump administration has negotiated 30 deals worth nearly $27 billion and expanded scrutiny over equity positions such as its 10% stake in Intel.
Nearly half of U.S. voters say the federal government should not own stakes in American companies, with CNBC's All-America Economic Survey finding 49% view the practice as inappropriate versus 19% who support it. Another 32% were undecided, indicating opinion remains fluid as the Trump administration pursues equity arrangements tied to industrial and national-security policy. The debate has intensified after the administration negotiated 30 deals worth nearly $27 billion in total, according to the Council on Foreign Relations (nonpartisan think tank). CNBC has also reported that officials held talks with OpenAI about a potential government stake when the artificial intelligence start-up goes public. One of the largest examples is the U.S. government's 10% ownership of Intel. The government had agreed to provide $8.9 billion in grants under legislation passed under the Biden administration, and the Trump administration sought equity in return so taxpayers could share in any upside. That initial stake has risen 372% and was worth $42 billion as of Thursday's close. Senate Republicans have voiced caution even as administration officials defend the strategy. Commerce Secretary Howard Lutnick discussed the Intel investment with Senate Republicans at a policy lunch, after which Sen. John Hoeven, R-N.D., said, "We have to be careful about that." Sen. Jon Husted, R-Ohio, said such investments may sometimes make sense for national security or taxpayers but "shouldn't be permanent," and he is sponsoring legislation to cap federal ownership at eight years when used for national-security purposes. The survey also points to a partisan split. Democrats were more likely to oppose government equity stakes, with 66% calling them inappropriate, compared with 34% of Republicans. Among self-identified MAGA Republicans, 31% said such ownership is appropriate, 31% said it is not, and 38% had no opinion. The results mark a shift from CNBC's October 2025 survey, when 56% said government ownership of a private company was inappropriate and 13% said it was appropriate.