Intel Surges After Trump Says Government Will “Draft It in the First Round”

Intel’s stock jumped over 7% Thursday after reports the Trump administration may trade part of its Fannie Mae holdings for shares in the struggling chipmaker. Traders described the move as the government’s “first-round draft pick,” with President Trump acting like a general manager eager to rebuild the roster before playoff season.

The possible deal follows Trump’s meeting with Intel CEO Lip-Bu Tan on Monday. Once a critic of Tan’s China investments, Trump has apparently warmed to him after learning his name “sounds like an upscale tanning booth” — something Trump claims “is great for morale in the locker room.”

Intel’s planned Ohio chip complex was announced in 2022 with a $20 billion price tag. The budget later ballooned toward $100 billion, but delays have pushed production into the 2030s. Right now, the site is little more than a dirt field with corporate signage and one very lonely security guard waving a foam finger.

Government backing could speed up the build. Critics, however, say trading mortgage holdings for semiconductor shares is like drafting a punter with your first pick. “Interesting strategy, but maybe not the best way to win the game,” one analyst said.

Officials have not confirmed if this would be a straight swap or if it might include extras. Some sources joked about a “player to be named later” clause that could throw in a stake in Trump Steaks Intellectual Property. Others believe it’s just another round of portfolio roulette from an administration that once floated Dogecoin-backed bonds.

Economists remain split. Some call it bold industrial policy. Others think it’s a late-night idea from a Cabinet poker game. Either way, the government seems ready to put points on the board — or at least sell a lot of commemorative jerseys.

Quote of the moment

We’re entering the era of government day-trading, and honestly, I’m not sure I hate it

Carl Denton, National Association of Confused Economists