Intel’s “revenge comeback” looks credible after landing multi-billion deals with Nvidia and reportedly opening talks with Apple. Its market cap remains modest versus peers, suggesting upside if it executes, though proving it can deliver leading-edge chips at scale is critical. Other likely allies include Microsoft, Amazon, and Google—firms keen to diversify away from TSMC and gain U.S. political cover. Defense contractors may also join given Washington’s push for domestic semiconductor resilience. A Meta investment could be more political than financial: signaling support for reshoring, earning regulatory goodwill, and mirroring Trump-style “credit claiming.”