Intel’s stock crashes, knocking $12B from government’s stake

Intel’s stock suffered one of its worst days ever on Friday, crashing around 28% after the chip giant reported a weaker-than-expected outlook for the fourth quarter. This route reduced the value of Intel’s holdings by the government by $12 billion, CNBC reports. The Trump administration had the government buy 10% stake over a year ago. Nvidia, which also took a big stake in Intel in 2025, saw its stock drop a bit on Friday as well.

Much of the tech industry — especially chipmakers — were caught in the selloff. Intel’s stock is still a profitable investment for the government so far (and for Nvidia), as it’s up more than 70% for the year, even…