Intel warned shareholders that the government’s stake could lead to "adverse reactions" from international customers, investors, and business partners.

President Donald Trump said on Friday the U.S. would take a 10% stake in Intel under a deal with the struggling chipmaker that converts government grants into an equity share, the latest extraordinary intervention by the White House in corporate America.

The market’s focus is locked on two things: NVIDIA earnings and inflation data. Recent warnings from SMCI, CoreWeave, and Dell about weak AI-related demand suggest NVIDIA’s results may fall short of sky-high expectations. That’s a major risk—not just for NVIDIA, but for the entire market rally built on AI momentum.

Wall Street awaits its next test with Nvidia due to report its quarterly earnings this week, as Peter Devlin explains.