Lutnick Signals Washington Could Tap Lockheed, Northrop Next
After the Intel stake, Lutnick signals defense contractors may be next in Washington’s new era of economic statecraft.

US Commerce Secretary Howard Lutnick has placed the defense sector squarely in Washington’s sights after a groundbreaking deal that saw the government take nearly a 10 percent stake in Intel Corp. (NASDAQ: INTC). The $8.9 billion move stunned Wall Street, signaling that the Trump administration is prepared to use equity stakes as a tool of statecraft. Lutnick’s comments this week made clear that semiconductors may only be the beginning.
Lockheed Martin and the Economics of War
Pressed on whether defense contractors might face similar arrangements, Lutnick singled out Lockheed Martin Corp. (NYSE: LMT), which generates nearly three quarters of its sales from the US government. Describing the aerospace giant as “basically an arm of the US government,” he asked pointedly, “What’s the economics of that?” Lockheed’s role in supplying advanced weapons systems such as the F-35 and F-22 has long made it central to America’s military posture. Lutnick’s remarks underscored a new willingness to explore financial leverage alongside procurement policy.
