The US government has recorded an unrealized gain of approximately $43.9 billion on its Intel investment, 13 months after acquiring a 9.9% stake. The position was established on Aug. 22, 2025, through the purchase of 433.3 million shares at $20.47 each for $8.9 billion. With Intel shares closing at $121.78 after a 12.1% rise, the stake is now worth about $52.8 billion, roughly 495% above the government’s purchase price. The passive investment was funded by $5.7 billion in CHIPS Act grants and $3.2 billion from the Secure Enclave program, without a board seat or normal governance rights. Intel’s rally has been supported by stronger expectations for AI-related CPU and server demand, as well as improving metrics for its 14A manufacturing process, although its foundry division continues to post significant losses.