[bryanlarsen]

An equity stake doesn't necessarily mean stock. The US could have given Intel $8B for a 25% stake in the new fab.

[Nevermark]

Or they could give Intel only 75% of that for the actual benefits they want.

“More Intel stock” is not in the list of things the government prioritizes. For good reason.

Plus, Intel doesn’t want to be saddled with bureaucratic partners.

Why make a deal more expensive and unattractive to both parties? Better to keep the deal focused on what is actually trying to be achieved.