Intel, Micron, and AMD shares rose after reports that federal CHIPS Act funding is accelerating. Intel is restructuring its award into a direct US government equity stake, Micron has finalized a multibillion-dollar grant for new fabs, and AMD gained on sector momentum.
Three of America's biggest chipmakers moved higher after reports surfaced that government funding from the CHIPS Act is accelerating, though the story behind each company's gain differs sharply. Intel, Micron, and AMD all traded up, but only two of the three have new federal money tied directly to the news.
Intel hands Washington an equity stake
Intel is restructuring its CHIPS Act awards in a way that gives the US government an equity stake of roughly 9.9% to 10% in the company. That works out to about 433 million shares at roughly $20.47 each. The position values the government's stake at about $8.9 billion. The deal is expected to close between late August 2025 and 2026.
The Trump administration has pivoted toward equity stakes instead of straightforward grants, turning the government into a part-owner of one of the country's most storied technology companies. By April 2026, the Commerce Department had already disbursed $13.1 billion of the $31.2 billion in direct CHIPS awards allocated so far, with Intel among the largest recipients.
Micron locks in a memory-chip grant
Micron's award is more straightforward. The memory chipmaker has finalized a CHIPS grant valued between $6.1 billion and $6.44 billion, earmarked for expanding fabrication capacity in New York and Idaho. The company has committed to capital expenditures exceeding $250 billion through 2035. First concrete is slated to be poured at its Clay, New York facility in July 2026.
AMD's rally, by contrast, has no new funding behind it. The company hasn't disclosed any new CHIPS Act award tied to this report, and its stock moved on sector momentum instead. AMD is fabless, meaning it designs chips but outsources manufacturing to partners like TSMC, so it doesn't need the fabrication subsidies Intel and Micron require.
Why Washington wants a stake
The CHIPS Act was designed to reverse decades of offshoring in chip manufacturing. In the 1990s, the US produced roughly 37% of the world's chips. That figure had dropped to about 12% before the legislation passed. Taking equity instead of handing out pure grants gives the government a direct financial interest in recipients' stock prices, so if Intel's shares rise, taxpayers could profit alongside private investors.
Source: Crypto Briefing
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