特朗普想“抢”哪些芯片公司？

Core Viewpoint - The U.S. government is considering acquiring stakes in semiconductor companies that received funding from the CHIPS Act, particularly Intel, while not planning to invest in companies like TSMC and Micron that are increasing their investments in the U.S. [2][3] Group 1: Government's Investment Strategy - The U.S. Commerce Secretary Howard Lutnick confirmed negotiations to acquire a 10% stake in Intel, indicating a shift towards equity stakes in companies that do not commit to increasing investments in the U.S. [2][6] - The government has previously acquired a 15% stake in a rare earth materials producer, raising concerns among industry executives about potential government stakes in major semiconductor manufacturers. [2][3] - Lutnick emphasized that the Biden administration is effectively providing funds to companies like Intel and TSMC without requiring equity, but the Trump administration's approach seeks to exchange funding for ownership stakes. [2][6] Group 2: Implications for Intel - Intel has received $2.2 billion of the $7.86 billion allocated under the CHIPS Act, with future funding tied to meeting construction and production milestones. [9] - The company has invested $107.5 billion in capital expenditures and $78.8 billion in R&D over the past five years, primarily to expand its manufacturing capacity in the U.S. [10] - Recent changes in Intel's leadership, including the retirement of CEO Pat Gelsinger, have led to a more cautious investment strategy under new CEO Lip-Bu Tan, who has indicated a shift away from speculative investments. [10] Group 3: Industry Concerns and Historical Context - Concerns have been raised about potential conflicts of interest and the effectiveness of government intervention in the semiconductor industry, with historical examples of government-led initiatives failing to deliver expected results. [7][8] - The government’s approach to public-private partnerships has been criticized, with calls for a clear exit strategy for government investments in private companies. [8] - Analysts suggest that while short-term benefits may arise from government funding, long-term success will depend on Intel securing major customers and addressing fundamental operational challenges. [11]