US Government: AI deals, investors and valuation

The US Department of Energy conditionally grants a $5 billion loan to Constellation for nuclear plants that will power data centers.

According to CNBC and the FT, OpenAI is discussing ceding about 5% to the US government before its IPO, in a vehicle similar to the Alaska Permanent Fund. It is not a payment: it involves transferring equity, with terms unclear.

Agreement with the Department of Defense to use OpenAI models on classified networks. Amount not disclosed.

Trump cleared H200 sales to approved Chinese buyers with 25% of revenue going to the US government; Beijing approved imports in March 2026.

Under the 15% tariff deal, Korea will invest $350bn in the US: $150bn in shipbuilding and $200bn cash, capped at $20bn a year, into chips, energy, AI and quantum.

Lux (2026) and Discovery (2028) at Oak Ridge with AMD chips, together with HPE and Oracle: combined investment of about $1 billion.

$8.9 billion of CHIPS Act and Secure Enclave grants converted into a 9.9% stake, plus a warrant for another 5%. The government gets no board seats.

In exchange for export licences, Nvidia pays the US government 15% of revenue from H20 chip sales in China.

AMD pays the US government 15% of revenue from MI308 sales in China as a condition for export licences.

The US government finalizes $4.745 billion for Samsung's Taylor (Texas) plants, 26% less than the preliminary deal; it is the plant that will make Tesla's AI chips.

The Commerce Department finalizes more than $6.1 billion for Micron memory fabs in New York and Idaho, the basis of future US HBM production.

The US government finalizes $7.86 billion in grants for Intel fabs in Arizona, New Mexico, Ohio and Oregon; in 2025 part of these funds will become the 10% stake.

The Commerce Department finalizes $6.6 billion in direct grants (plus up to $5 billion in loans) for TSMC's fabs in Arizona, where 2 nm chips will also be made.