Softbank owns a majority stake in Arm. Arm-based chips dominate the smartphone market, and they're starting to compete with Intel in PCs and servers as well. Arm doesn't sell chips directly, instead licensing its designs and intellectual property to companies including Apple, Nvidia, Qualcomm, and many others.

Intel looks to be set to get the U.S. government as a shareholder. The Trump administration could pursue equity stakes in other companies including Taiwan Semiconductor Manufacturing

The Trump administration is talking about buying stock in Intel and starting a sovereign wealth fund. There isn't a dumber, more irresponsible financial idea swirling around in Washington.