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Notes -
In the case of US Steel, the government didn't give out subsidies, it simply demanded a payoff for approving the deal.
More generally, it's not philosophically coherent. If the USG expected to get a stake in exchange for subsidies, the most of the South and Midwest would be government property. The general pattern the US has followed is that it may offer subsidies or very favorable lending terms (which amount to subsidies) for things the government wants to promote, but hasn't insisted on receiving partial ownership. Partly this because Americans (and especially Republicans) have traditionally been averse to state ownership, but also partly because subsidies are not generally conceived of as business investments but the state paying you to do something it wants. The CHIPS Act was not the USG dipping its toes in the market to make a little money, it was promoting the development of domestic chip production.
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