this post was submitted on 31 Oct 2026
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Intel’s woes wipe out $1 trillion of semiconductor market cap in one day — PC market bloodbath leaves few chip stocks unscathed: $1 trillion in semiconductor market capitalization wiped out. (www.tomshardware.com)
submitted 14 hours ago by eicker@lemmy.world to c/technology@lemmy.world
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[–] sundray@lemmus.org 40 points 13 hours ago (2 children)

Huh.

in August, [the US government spent] $8.9 billion for a nearly 10% share of Intel, converted out of CHIPS Act grant money. Today, the federal government is Intel’s largest single shareholder.

Wonder what that 8.9 billion is worth now...

[–] phutatorius@lemmy.zip 2 points 3 hours ago

So they bought 10% for $8.9 billion? So Intel's market cap is only $89 billion? No, earlier this month it was $350 bn. So what's going on here?

[–] Canigou@jlai.lu 29 points 13 hours ago* (last edited 13 hours ago) (1 children)

I've read somewhere that it is still a more than 200% grow in value, even considering the last dive. Will post the source if I find it again...
EDIT : Here "Even accounting for Friday’s expected drop, the value of the government’s stake in Intel has grown by 280%."

[–] sundray@lemmus.org 5 points 13 hours ago (1 children)

Ah, that's interesting. Curious if the govt will scoop up more of Intel or stand pat, then. We're kind of in uncharted waters here.

[–] Prox@lemmy.world 7 points 7 hours ago (1 children)

Why is the government buying any of Intel?

[–] PattyMcB@lemmy.world 5 points 5 hours ago

The secret ingredient is crime (corruption)