Trump keeps investing millions of government money in 1 essential industry (and it's not AI chips)

"That's the increasingly common reality for a growing number of U.S. companies, a new analysis by The New York Times finds-and for all the chatter over the summer about the feds moving to own almost 10 percent of Intel, computer chips aren't the only sector seeing increased governmental involvement. Instead, it's the minerals, metals, and mining industry that comes up again and again in the Times' breakdown of where the Trump administration is making money moves."

"Included on that list are investments made by the Department of Defense ($400 million in the mining company MP Materials; $35.6 million in Trilogy Metals; $80 million in mineral refiner ReElement Technologies; $620 million in rare earth magnet manufacturer Vulcan Elements) as well as the departments of Commerce (another $50 million in Vulcan Elements) and Energy ($182 million in deferred debt service with Lithium Americas)."

"The companies in which Trump is pushing for federal investment tend to be those deemed vital to national security, which is no surprise when you look at the sectors being prioritized: metals and mining, nuclear power, semiconductors. 'If business-as-usual policies worked, America would not be reliant on foreign countries for critical minerals, semiconductors, and other products that are key for our national and economic security,' an administration spokesperson said."

Federal agencies have acquired or are seeking equity stakes and options in U.S. companies across critical industries, including a 9.9 percent Intel stake priced at $8.9 billion. The Department of Defense invested in MP Materials ($400 million), Trilogy Metals ($35.6 million), ReElement Technologies ($80 million), and Vulcan Elements ($620 million). The Commerce Department added $50 million to Vulcan Elements and the Energy Department holds $182 million in deferred debt service with Lithium Americas. The federal government also holds a golden share in U.S. Steel and an option for up to 8 percent in Westinghouse. The prioritized sectors are minerals, semiconductors, and nuclear power on national security grounds.

Read at Fast Company