In recent years, chip supply chains have become a core issue in international politics and economics. While the US remains the global centre of technological innovation, it has gradually fallen behind Asia in semiconductor manufacturing, particularly Taiwan's TSMC and South Korea's Samsung. To ensure critical processes do not depend entirely on overseas sources, the US government has continued promoting industrial reshoring policies in recent years. According to the latest agreement, the US government will invest a total of $8.9bn, after deducting the already allocated $2.2bn, consisted of the unpaid from CHIPS Act $5.7bn, plus $3.2bn for the "Security Enclave Programme", purchasing 433.3m shares of Intel common stock at $20.47 per share, equivalent to a 9.9 per cent stake. This is a one-time investment, passive in nature, with the government not directly intervening in corporate governance or holding board seats, but in principle acting in concert with the board. Economic analyst Fang Yuan noted: compared with direct subsidies, the equity investment approach resembling a "sovereign fund" can better ensure supply chain independence.
