特朗普政府股权投资风暴：10家企业被“收编”

Core Viewpoint - The Trump administration has made unprecedented equity investments in at least 10 companies, primarily in critical minerals, with a strategy to support domestic supply chains and potentially expand investments in sectors like chip manufacturing and nuclear reactors [1]. Group 1: U.S. Steel - The Trump administration acquired a "golden share" in U.S. Steel, granting veto power over key business decisions without direct economic equity [1][2]. - This golden share allows the government to block decisions such as closing or relocating plants and changing the company's name [2]. Group 2: MP Materials - MP Materials operates the only commercial rare earth mine in the U.S. and has a market capitalization exceeding $10 billion [3]. - The U.S. Department of Defense agreed to a landmark deal involving a $400 million preferred stock purchase, potentially making it the largest single shareholder with a 15% stake [3]. Group 3: Intel - The U.S. Department of Commerce purchased 433.3 million shares of Intel at $20.47 per share, acquiring a 10% stake funded by government grants [4]. - The shares acquired do not carry voting rights or governance rights [4]. Group 4: Lithium Americas - Lithium Americas is a startup planning to develop a lithium mine in Nevada and has received a debt repayment deferral from the Department of Energy in exchange for equity [5]. - The government aims to mitigate taxpayer risk by acquiring a small equity stake [5]. Group 5: Trilogy Metals - Trilogy Metals is another startup focused on mining in Alaska, with the government investing $35.6 million for a 10% equity stake and additional warrants for more shares [6]. Group 6: USA Rare Earth - USA Rare Earth is developing a magnet manufacturing facility and has received a $1.3 billion loan offer from the Department of Commerce in exchange for equity [7]. - The government could hold between 8% to 16% of the company depending on warrant exercise [7]. Group 7: Westinghouse - Westinghouse, a private nuclear reactor developer, received funding for an $80 billion nuclear power plant project, with the government acquiring participation rights [8]. - The government may become an 8% shareholder if the company's value exceeds $30 billion [8]. Group 8: Vulcan Elements - Vulcan Elements is establishing a domestic rare earth magnet supply chain and has secured $6.2 billion in loans and incentives from the government [9]. - The Department of Commerce will receive a $50 million equity investment and the Department of Defense will obtain warrants [9]. Group 9: XLight - XLight is developing free-electron lasers for semiconductor manufacturing and has been offered up to $150 million in federal incentives in exchange for equity [10]. Group 10: L3 Harris Technologies - L3 Harris Technologies, valued over $65 billion, announced a partnership with the government for a $1 billion investment in its missile systems [12]. - The investment will convert into common stock during an anticipated IPO in late 2026 [12].