Resolves YES if, between January 1, 2025 00:00 ET and December 31, 2025 23:59 ET, a U.S. government entity announces or enacts company-specific emergency assistance to Intel Corporation intended to prevent its insolvency or default.
Qualifying assistance may include:
Capital injection
Rescue loan
Debt or equity purchase
Guarantee or backstop explicitly naming Intel
Verification sources (any one suffices):
U.S. Treasury press releases (home.treasury.gov)
Federal Reserve announcements/rules (federalreserve.gov)
Enacted U.S. law (congress.gov, govinfo.gov)
Intel SEC filings (8-K, 10-Q, or 10-K) (intc.com)
Explicitly excluded from counting as a bailout:
Broad-based programs available to many firms (e.g., general Federal Reserve 13(3) facilities)
Routine procurement contracts
Tax credits
CHIPS Act grants/loans announced before the resolution window or awarded based on project performance
Other industrial-policy subsidies not framed as emergency rescues to avert Intel’s failure
Resolves NO if:
Intel enters bankruptcy or restructures without such government rescue
No qualifying action occurs in the resolution window
If Intel changes its name or merges, apply the same criteria to the successor entity.
Background
In Nov 2024, Intel was awarded up to $8.5 B in CHIPS Act grants and about $11 B in loans—industrial-policy subsidies tied to fabrication projects. These are ordinary-course incentives, not emergency rescues.
Intel’s 2025 filings show recognition of CHIPS Act grants and tax credits—these remain explicitly excluded under the market rules.
On Aug 5, 2025, Fitch downgraded Intel’s credit rating to BBB, citing pressure on credit quality but noting ~$21.2 B in liquidity and undrawn revolvers.
Post-Dodd-Frank, the Federal Reserve cannot extend single-firm 13(3) emergency facilities. A company-specific Intel rescue would likely require Treasury or Congressional action, or an explicitly named guarantee/backstop.
Media may refer to CHIPS Act disbursements or state incentives as “bailouts”; such coverage does not trigger YES unless the aid meets the emergency, Intel-specific, insolvency-prevention criteria.
1,000