What Sputnik couldn’t do to American science, Beijing has

The US government owns 9.9 per cent of Intel, converted out of US Chips Act grants, alongside a golden share in US Steel, US$400 million in the rare earth mining firm MP Materials and stakes in roughly 30 firms worth US$26.7 billion. In 2025, Nvidia and AMD gave up 15 per cent of their China chip sale revenues in exchange for export licences. The country that spent four decades advising its allies