The Trump administration has expanded federal equity involvement in strategic sectors since mid-2025, using CHIPS Act authorities, the Defense Production Act, Office of Strategic Capital loans, and Industrial Base Analysis and Sustainment programs to attach stock, warrants, or golden shares to grants and financing. This has produced stakes or instruments in 36 companies across semiconductors, critical minerals, quantum computing, and defense supply chains, with recent additions including Wolfspeed warrants in October 2026 and positions in Hertha Metals and the Elmet Group. Trader probabilities reflect the pattern of conditioning support on minority equity in firms advancing domestic manufacturing and reducing reliance on foreign supply chains, alongside the market’s December 31, 2026 resolution window and pending legislative efforts to formalize broader equity authority.