“美国要学台积电，挽救英特尔”

Core Insights - The U.S. government has acquired approximately 10% of Intel's shares, becoming a major shareholder in the company, which is facing challenges in its foundry business [1][2][5] - The investment aims to prevent Intel from divesting its chip manufacturing business and to enhance domestic production capabilities in response to increasing geopolitical risks [2][4] - Intel's new chip factory in Ohio, initially set to begin operations this year, has faced delays, with completion now pushed to 2030 or later due to a lack of customer orders [1][5] Group 1: Government Investment - The U.S. government purchased 433.3 million shares at $20.47 each, totaling approximately $8.9 billion, funded by previously allocated subsidies under the CHIPS and Science Act [5][6] - The total investment from the U.S. government, including prior subsidies, amounts to $11.1 billion [6] - The government will not seek direct representation on Intel's board and has agreed to vote on shareholder matters in coordination with the board [6] Group 2: Intel's Business Challenges - Intel's foundry business has been a significant contributor to the company's ongoing losses, leading to considerations of divestiture [1][2] - The company has reduced workforce and slowed project progress at the Ohio factory, reflecting its operational difficulties [1][5] - There is internal division within Intel regarding the future of its foundry business, with some board members favoring a sale [2][4] Group 3: Industry Context - The U.S. government's investment strategy mirrors the public-private partnership model seen with Taiwan's TSMC, which has received substantial government support [2][6] - Other regions, such as Japan and Europe, are also increasing government support for semiconductor manufacturing, indicating a global trend towards state involvement in the industry [6] - As of the end of last year, 76% of Intel's revenue came from international sales, highlighting the potential risks associated with increased government intervention [7]