The Trump administration is actively considering acquiring partial stakes in major U.S. defence contractors such as Lockheed Martin, Boeing, and Palantir Technologies, according to Commerce Secretary Howard Lutnick.

Defending the proposal in an interview with CNBC, Lutnick emphasised that discussions are underway with Pentagon leaders on new ways to finance large-scale munitions acquisitions as global security demands escalate.

He highlighted that Lockheed, which derives nearly all of its revenues from the U.S. government, already operates as an effective extension of federal policy, framing equity stakes as a logical next step in aligning strategy with national defence needs.

The potential move represents a deepening of the administration’s interventionist approach to industrial policy. In recent months, Washington has acquired a 10% stake in Intel, secured a “golden share” in U.S. Steel during its acquisition by Nippon Steel, and taken positions in rare-earth supplier MP Materials.

It also brokered a revenue-sharing deal with Nvidia and AMD, claiming a 15% cut of chip sales to China otherwise restricted under export controls. Such actions, Lutnick argued, serve the American people by embedding government leverage in firms vital to national security and technology leadership.

Markets responded cautiously to the news, with Lockheed shares rising 1.1% and Boeing climbing 0.7%, while Palantir slipped 1%. Industry executives remained largely silent, with Boeing declining comment and Lockheed and Palantir not immediately responding.

Critics, however, warn that deeper government intervention could undermine innovation and corporate autonomy, reducing agility in industries that thrive on rapid decision-making and competitive positioning. Still, the unusual alliances forming—such as Senator Bernie Sanders supporting the Intel stake—reflect how economic nationalism is reshaping the U.S. political and business landscape.

Lutnick underscored that companies seeking government support should be ready to accept White House influence over their operations. Pointing to the Nvidia deal as an example, he argued that if Washington adds “fundamental value” to a business, President Trump is justified in seeking returns for U.S. taxpayers in exchange for strategic backing.

Based On Reuters Report