Rep. Thomas Massie (R-Ky.) on Thursday accused his fellow Republicans of looking the other way while the Trump administration effectively "nationalized" parts of several publicly traded companies — even as they criticize Democrats for alleged communist influence.

Massie Targets Government Stakes

In a post on X, Massie listed the administration's ownership interests in Intel Corp (INTC), MP Materials Corp (MP), Lithium Americas Corp (LAC), Trilogy Metals Inc (TMQ), and a "golden share" in United States Steel Corp (X).

The Kentucky Republican argued that these stakes conflict with the GOP's criticism of Democrats over communist influence. "Republicans decrying communist involvement in the Democrat party just looked the other way…" Massie added, quoting his own post.

Government Backed Strategic Industries

The Trump administration has been backing strategic industries through direct investments and financing, particularly in semiconductor manufacturing, critical minerals, and domestic steel production. The U.S. government acquired a 10% non-voting stake in Intel in August after converting $11.1 billion in CHIPS Act funding into 433.3 million shares. The Department of Defense is the largest shareholder in MP Materials with a roughly 15% stake, while the government also holds a 5% stake in Lithium Americas and a 10% stake in Trilogy Metals. Additionally, the government secured a "golden share" in U.S. Steel as part of Nippon Steel Corp's acquisition of the company, giving Washington veto authority over key corporate decisions.

Massie said these investments amount to the administration having "nationalized ownership of these private companies."

Strategic Investments Under Scrutiny

Massie's criticism comes as government ownership of private companies has become a broader topic in Washington, particularly around artificial intelligence. Earlier this month, Vice President JD Vance said Trump supports the U.S. taking ownership stakes in major AI companies, while Sen. Bernie Sanders (I-Vt.) separately proposed a bill aimed at granting the American public ownership of these companies.

Market data indicates Intel has a Momentum score in the 99th percentile, with a positive price trend across short, medium, and long term.