US Government-Backed Companies
Public companies the US federal government holds equity in or directly subsidizes/grants — Genesis Mission (DOE AI), CHIPS Act semiconductors, critical minerals, energy, and more. Shown alongside their Valpik valuation score.
⚠ Government support is not a buy signal
A federal stake or subsidy signals the company is in a strategic industry, but it does not guarantee share-price gains or returns. Subsidies carry conditions, political risk, and possible dilution. Use only as one reference input.
49 companies · known direct support totals $50B
- Intel Corporation INTC🏛️ Govt owns 9.9%$17B🏛️ Govt equity🔬 CHIPS
The US government holds a ~9.9% equity stake in Intel (433.3M shares for $8.9B, funded by remaining CHIPS grants plus converted Secure Enclave award funds), and Intel separately received up to $7.86B in CHIPS Act direct funding for leading-edge fabs and advanced packaging.
Our score: 38Source ↗ - 🔬 CHIPS
TSMC's Arizona unit received up to $6.6B in finalized CHIPS Act direct funding for three leading-edge logic fabs in Phoenix; TSM is the NYSE-listed ADR of the Taiwan-listed parent (2330.TW).
Our score: 60Source ↗ - $6.2B🔬 CHIPS
Micron received up to $6.165B in finalized CHIPS Act direct funding for DRAM memory fabs in Clay, New York and Boise, Idaho (a separate ~$275M Manassas, VA preliminary memorandum is not part of this finalized award).
Our score: 72Source ↗ - 🔬 CHIPS
Samsung Electronics (Korea Exchange 005930) received up to $4.745B in finalized CHIPS Act direct funding for leading-edge logic fabs, an R&D fab and advanced packaging in Taylor, Texas plus an Austin expansion.
Our score: 64Source ↗ - Korea Zinc Co., Ltd. 010130.KS🏛️ Govt owns 10%$1.9B🏛️ Govt equity
For a $7.4B Tennessee mineral-refining plant, a US-government-controlled partnership (Pentagon + Commerce, via Crucible JV LLC in which DoD holds ~40%) is buying ~$1.9B in newly issued Korea Zinc shares, giving the government ~10% of the KRX-listed company.
Our score: 47Source ↗ - $1.9B🔬 CHIPS🏛️ Govt equity⚛️ Quantum
GlobalFoundries received up to $1.5B in finalized CHIPS Act direct funding (plus a ~$75M supplemental) for mature-node/essential chip manufacturing in Malta, New York and Burlington, Vermont serving auto and defense supply chains. GlobalFoundries was also one of two foundry recipients in the May 2026 CHIPS Act quantum package (~$375M for a US govt minority equity stake).
Our score: 57Source ↗ - 🔬 CHIPS
Texas Instruments received up to $1.61B in finalized CHIPS Act direct funding supporting three new 300mm analog/embedded-processing fabs in Sherman, Texas and Lehi, Utah.
Our score: 54Source ↗ - $1.6B💊 Bio/vaccine
Novavax received $1.6B from Operation Warp Speed (the largest single OWS award at the time) to fund Phase 3 development, large-scale manufacturing and delivery of 100M doses of its protein-based vaccine NVX-CoV2373.
Our score: 43Source ↗ - ⚡ Energy grant
X-energy was selected under the DOE Advanced Reactor Demonstration Program for up to ~$1.2B in federal cost-shared funding (up to 50% cost-share over 7 years) to develop the Xe-100 reactor and build the TRISO-X fuel fabrication facility; it later listed on Nasdaq (XE).
Our score: 29Source ↗ - 🏛️ Govt equity⚛️ Quantum
IBM is the largest recipient of the May 2026 CHIPS Act quantum package — slated for $1B (matched by IBM's own $1B) to build a US quantum foundry via a new entity (Anderon), in exchange for a minority, non-controlling federal equity stake. The package signed letters of intent with 9 companies totaling ~$2.01B.
Our score: 41Source ↗ - $766M💊 Bio/vaccine
Moderna received a combined $766M in BARDA cost-shared development awards ($176M in 2024 plus $590M in 2025, via the RRPV consortium) to develop an H5 avian-flu mRNA vaccine; HHS later terminated the award in mid-2025.
Our score: 34Source ↗ - Vaxart, Inc. VXRT$461M💊 Bio/vaccine
Vaxart received a BARDA Project NextGen cost-reimbursement award of up to $460.7M (via the RRPV) to run a 10,000-participant Phase 2b trial of its oral COVID-19 vaccine; HHS issued stop-work orders and wound the project down in 2025.
Our score: Not trackedSource ↗ - $458M🔬 CHIPS
SK hynix (Korea Exchange 000660) received up to $458M in finalized CHIPS Act direct funding for an advanced-packaging (HBM for AI) and R&D facility in West Lafayette, Indiana.
Our score: 59Source ↗ - 🔬 CHIPS
Amkor Technology received up to $407M in finalized CHIPS Act direct funding for an advanced semiconductor packaging and test facility in Peoria, Arizona.
Our score: 65Source ↗ - GlobalWafers America (GlobalWafers Co.) 6488.TWO$406M🔬 CHIPS
GlobalWafers America and MEMC received up to $406M in finalized CHIPS Act direct funding for 300mm silicon and silicon-on-insulator wafer production in Sherman, Texas and St. Peters, Missouri; parent GlobalWafers is listed in Taiwan on TPEx (6488).
Our score: Not trackedSource ↗ - MP Materials Corp. MP🏛️ Govt owns 15%$400M🏛️ Govt equity⛏️ Critical minerals
Under a July 2025 DoD public-private partnership, the Department of Defense bought $400M of MP's Series A convertible preferred stock plus a warrant (becoming its largest shareholder at ~15% as-converted) and committed to a 10-year $110/kg NdPr price floor and 100% offtake of the 10X magnet facility's output.
Our score: 33Source ↗ - 💊 Bio/vaccine
Regeneron received a BARDA Project NextGen cost-shared award of up to ~$326M (HHS funding up to 70% of certain clinical costs) to develop a next-generation COVID-19 monoclonal antibody for prevention in people who cannot take or do not respond to vaccines.
Our score: 58Source ↗ - USA Rare Earth, Inc. USAR🏛️ Govt owns 10%$296M🏛️ Govt equity⛏️ Critical minerals
USA Rare Earth secured a finalized Commerce CHIPS package giving the government a ~10% equity/warrant stake within up to $277M of direct funding for its mine-to-magnet supply chain, plus a separate DOE selection for up to $19.3M for pilot-scale rare-earth separations.
Our score: 33Source ↗ - Lynas USA, LLC (Lynas Rare Earths) LYC$258M⛏️ Critical minerals
ASX-listed Lynas Rare Earths received an updated DoD DPA Title III cost-reimbursement contribution of ~$258M (raised from $120M in 2022) to fund its Texas heavy-rare-earth separation facility.
Our score: Not trackedSource ↗ - Syrah Resources Limited SYR$251M⛏️ Critical minerals🏛️ Govt equity
ASX-listed Syrah Resources received a ~$219.8M DOE Battery Materials Processing grant to expand its Vidalia, Louisiana graphite anode facility, and separately the DFC opened a pathway to convert ~$31M of its Balama loan into a ~20% common-equity stake plus a convertible note and warrants.
Our score: Not trackedSource ↗ - Standard Lithium Ltd. (SWA Lithium LLC — South West Arkansas project, JV with Equinor) SLI$225M⛏️ Critical minerals
Standard Lithium's SWA Lithium JV (with Equinor) was selected and finalized (Jan 2025) for a DOE Bipartisan Infrastructure Law grant of up to $225M for its direct-lithium-extraction project producing battery-grade lithium carbonate in Lafayette County, Arkansas.
Our score: Not trackedSource ↗ - ⛏️ Critical minerals
Albemarle received two DOE Bipartisan Infrastructure Law battery-materials grants — ~$150M (Round 1, 2022) for a lithium concentrator at Kings Mountain, NC and ~$67.1M (Round 2, 2024) to retrofit a Charlotte, NC lithium-metal-anode facility.
Our score: 69Source ↗ - $199M⛏️ Critical minerals
EnerSys was selected for a $199M DOE Bipartisan Infrastructure Law battery-manufacturing grant to develop a lithium-ion cell gigafactory in Greenville, SC for EV, grid-storage and defense applications.
Our score: 65Source ↗ - ⛏️ Critical minerals
American Battery Technology Company was selected for a $150M DOE Bipartisan Infrastructure Law grant (finalized at ~$144M in December 2024) toward construction of its second commercial-scale lithium-ion battery recycling facility.
Our score: 36Source ↗ - ⚡ Energy grant
Honeywell received a ~$126.6M DOE Bipartisan Infrastructure Law battery-materials grant to build a first-of-its-kind Geismar, Louisiana facility producing LiFSI, a key lithium-battery electrolyte salt.
Our score: 63Source ↗ - Talon Nickel (USA) LLC (subsidiary of Talon Metals Corp.) TLO.TO$115M⛏️ Critical minerals
TSX-listed Talon Metals' US subsidiary received a $114.8M DOE Bipartisan Infrastructure Law grant to build a battery-minerals (nickel) processing facility in Mercer County, North Dakota.
Our score: Not trackedSource ↗ - ⚡ Energy grant
Dow was selected for a $100M DOE Bipartisan Infrastructure Law battery-materials grant to produce battery-grade carbonate solvents used in lithium-ion battery electrolytes on the US Gulf Coast.
Our score: 57Source ↗ - ⛏️ Critical minerals
NOVONIX (Nasdaq: NVX; ASX) was selected for a DOE Bipartisan Infrastructure Law grant, finalized at US$100M, for a synthetic graphite anode-materials facility in Chattanooga, Tennessee.
Our score: 35Source ↗ - 🏛️ Govt equity⚛️ Quantum
D-Wave Quantum is one of seven quantum-computing firms in the May 2026 CHIPS Act package, slated for up to $100M in exchange for a minority, non-controlling US government equity stake.
Our score: 35Source ↗ - 🏛️ Govt equity⚛️ Quantum
Rigetti Computing is one of seven quantum-computing firms in the May 2026 CHIPS Act package, slated for up to $100M in exchange for a minority, non-controlling US government equity stake.
Our score: 34Source ↗ - Infleqtion, Inc. INFQ$100M🏛️ Govt equity⚛️ Quantum
Infleqtion is one of seven quantum-computing firms in the May 2026 CHIPS Act package, slated for up to $100M in exchange for a minority, non-controlling US government equity stake.
Our score: Not trackedSource ↗ - Infinera Corporation INFN$93M🔬 CHIPS
Infinera received up to $93M in finalized CHIPS Act direct funding for indium-phosphide photonic/optical semiconductor production in San Jose, California and Bethlehem, Pennsylvania (Nokia's acquisition closed shortly after the award).
Our score: Not trackedSource ↗ - $77M🔬 CHIPS
Entegris received up to $77M in finalized CHIPS Act direct funding for a Colorado Springs, Colorado facility producing liquid filtration products and FOUP wafer carriers for chipmaking.
Our score: 50Source ↗ - 🔬 CHIPS
Absolics, a subsidiary of Korea-listed SKC (Korea Exchange 011790), received up to $75M in finalized CHIPS Act direct funding for a glass-substrate advanced-packaging facility in Covington, Georgia.
Our score: 26Source ↗ - ⛏️ Critical minerals
Perpetua Resources received a DoD DPA Title III cost-reimbursement award totaling ~$59.2M cumulative (from an initial $24.8M, later upsized) for permitting and construction-readiness of the only US-mined antimony source at the Stibnite Gold Project.
Our score: 34Source ↗ - $53M🔬 CHIPS
HP Inc. (via HPI Federal LLC) received up to $53M in finalized CHIPS Act direct funding for microfluidics/'lab-to-fab' semiconductor manufacturing in Corvallis, Oregon.
Our score: 68Source ↗ - 💊 Bio/vaccine
Vir Biotechnology received ~$50M in BARDA cost-shared development funding ($40M under Project NextGen to advance the VIR-7229 COVID-19 monoclonal antibody and alternative delivery tech, plus $10M from BARDA's CBRN division for antibodies against a second pandemic-potential pathogen).
Our score: 36Source ↗ - ⛏️ Critical minerals
IperionX received a DoD IBAS industrial-base award of up to $47.1M (within a combined $70.7M two-phase program) to vertically integrate and scale titanium production at its Virginia Titanium Manufacturing Campus.
Our score: 36Source ↗ - BAE Systems Electronic Systems BA.L$36M🔬 CHIPS
BAE Systems received up to $35.5M in finalized CHIPS Act direct funding to quadruple capacity at its Nashua, New Hampshire Microelectronics Center making MMIC chips for the F-35 and other defense programs; parent BAE Systems plc is LSE-listed (BA.L).
Our score: Not trackedSource ↗ - 🔬 CHIPS
Corning received up to $32M in finalized CHIPS Act direct funding to expand high-purity fused silica/synthetic glass production (for EUV lithography and chip substrates) in Canton, New York.
Our score: 39Source ↗ - GeoVax Labs, Inc. GOVX$24M💊 Bio/vaccine
GeoVax Labs received a BARDA Project NextGen direct award of ~$24.3M (potentially up to $45M) via the RRPV to fund manufacturing and a 10,000-participant Phase 2b trial of its MVA-based vaccine GEO-CM04S1; BARDA terminated the award for convenience in April 2025.
Our score: Not trackedSource ↗ - 🔬 CHIPS
Rocket Lab received up to $23.9M in finalized CHIPS Act direct funding (a signed Direct Funding Agreement) to expand compound-semiconductor space-grade solar cell manufacturing at its SolAero facility in Albuquerque, New Mexico.
Our score: 36Source ↗ - Ucore Rare Metals Inc. UURAF$18M🏛️ Government-backed
TSX-V/OTC-listed Ucore Rare Metals received an $18.4M non-repayable DoD IBAS Phase 2 award (executed as an Other Transaction Agreement) to fund engineering, equipment and early construction of its Alexandria, Louisiana rare-earth refinery.
Our score: Not trackedSource ↗ - Edwards Vacuum (Atlas Copco) ATCO-A.ST$18M🔬 CHIPS
Edwards Vacuum received up to $18M in finalized CHIPS Act direct funding for a dry-vacuum-pump (semiconductor equipment) manufacturing facility in Genesee County, New York; parent Atlas Copco is listed on Nasdaq Stockholm (ATCO-A).
Our score: Not trackedSource ↗ - Trilogy Metals Inc. TMQ🏛️ Govt owns 10%$18M🏛️ Govt equity
The US Dept of War agreed to invest ~$17.8M for 8,215,570 units at $2.17 (~10% of Trilogy), with a further ~$17.8M to acquire shares/a call option from JV partner South32, tied to the Ambler Access road and the Upper Kobuk copper-zinc projects.
Our score: Not trackedSource ↗ - ⛏️ Critical minerals
NioCorp's subsidiary Elk Creek Resources received a DoD DPA Title III award of up to $10M for feasibility engineering, drilling and scandium work to establish the nation's first domestic scandium mine-to-master-alloy supply chain.
Our score: 33Source ↗ - Lithium Americas Corp. LAC🏛️ Govt owns 5%—🏛️ Govt equity
In exchange for the DOE deferring ~$184M of debt service on its ~$2.26B Thacker Pass loan, the government received penny warrants for a 5% equity stake in Lithium Americas plus warrants for a 5% economic interest in the GM/Thacker Pass joint venture.
Our score: Not trackedSource ↗ - United States Steel Corporation X—🏛️ Govt equity
To clear Nippon Steel's acquisition, the federal government received a single non-economic 'golden share' allowing it to appoint one independent director and veto key decisions (HQ move, name change, plant closures), with no money invested and no economic equity.
Our score: Not trackedSource ↗ - 🏛️ Govt equity
As part of the $1.4B Vulcan/ReElement rare-earth partnership, the Dept of War's Office of Strategic Capital received warrants (size undisclosed) in ReElement Technologies, the refining subsidiary of NASDAQ-listed American Resources Corp.
Our score: 31Source ↗
Compiled from US federal announcements, SEC filings, and corroborating reputable news. Support status/amounts are as of announcement and may change.