The Trump administration has disclosed 43 transactions involving direct holdings of shares in private-sector companies, totaling approximately $30 billion. While the valuation of its Intel holdings has fluctuated significantly, investment in wafer plants through cooperation with Japan is also progressing.
After the launch of the second Trump administration, the U.S. government announced 43 transactions involving direct holdings of shares in private-sector companies. The transactions cover more than 40 companies and involve approximately $30 billion in funding. They are structured as warrants enabling the future acquisition of shares and span a wide range of fields, including semiconductors, critical minerals, and quantum computing.
In the semiconductor sector, the $8.9 billion investment in Intel is the largest, representing a 9.9% stake. After the sale of shares in August 2025, Intel’s market capitalization temporarily increased to $61 billion, but has recently decreased to approximately $41 billion, with approximately $20 billion disappearing on a book-value basis.
A transaction involving direct Japanese participation is the plan to build 2 new plants at GlobalFoundries’ Malta facility in New York State. The funding cap is $21 billion, with the Japanese government providing the investment. GlobalFoundries will operate the plants, and profits will be allocated between the investors and the company.
In critical minerals, investments in multiple companies, including Korea Zinc, are progressing, and transactions involving substantial loans have been announced in total. In quantum computing, a $1 billion subsidy is planned for Anderon, and IBM’s quantum business is expected to expand its production capacity.