The U.S. government's equity position in Intel is currently showing an unrealized gain of roughly $26 billion, calculated from the company's closing share price on Friday.
Intel shares were trading near $81 late into Friday's session, about four times the $20.47 per-share price the U.S. paid for a 9.9% stake in the company in August 2025. With ownership of 433.3 million primary shares of common stock, the government's paper gain sits just above $26 billion.
The original transaction also included a five-year warrant priced at $20 per share that would allow the purchase of an additional 5% of Intel's common shares. That warrant is exercisable only if Intel stops owning at least 51% of its foundry business.
Intel has been the subject of several major commercial arrangements since the government took its minority stake. NVIDIA invested $5 billion in the company in late 2025 in a deal tied to collaboration on artificial intelligence infrastructure. Tesla announced plans to use Intel's 14A process for its next-generation Dojo and vehicle chips. Google agreed to a multi-year purchase of Xeon processors and a joint effort to develop custom ASIC Infrastructure Processing Units.
On the corporate results front, Intel reported first-quarter results that beat expectations. The company posted earnings per share of $0.29, above analysts' estimate of $0.02. Revenue for the quarter was $13.58 billion, surpassing the consensus estimate of $12.41 billion.
Intel's guidance for the second quarter of 2026 calls for $0.20 earnings per share, higher than the consensus view of $0.09. The company expects second-quarter revenue in a range of $13.8 billion to $14.8 billion, compared with a consensus estimate of $13.04 billion.
The article also noted a valuation tool referenced in coverage of the stock: a Fair Value calculator that combines 17 established industry valuation models to assess whether INTC represents a buying opportunity.
Summary: The U.S. government's minority holding in Intel, acquired at $20.47 per share for a 9.9% stake, is currently valued at a substantial paper gain as the share price approaches $81. The investment includes a conditional warrant and comes amid several strategic partnerships and a quarter that beat revenue and earnings expectations. Intel's guidance for the next quarter also exceeds consensus figures.