> Would you still be saying this if Intel wasn’t floundering as badly as it is today

Yes.

I've been a proponent of a Temasek style model for the US since my undergrad days. This would make it easier to commercialize grant funded IP instead of the mess that SBIR/STTR is today.

It was difficult for the Biden admin to do something similar, but at least the traditional norms have been shattered.

As I said above, it's very much a "broken clock is right twice" type of situation.

> Also this appears to be in exchange for CHIPS funds (per the article). HN has universally supported equity in return for bailouts over the years.

Exactly!

And like I have said a couple of times on HN - I view the CHIPS and IRA as the carrot, and tariffs plus ownership stakes as the stick.

There is nothing wrong with with a public-private industrial policy. We ourselves used one until the 1980s with Reaganomics, as did our allies like Japan, Taiwan, Singapore, Israel, Ireland, and others.