But they won’t go bankrupt because the US gov./army need Intel to stay relevant against China, and Intel is basically the only American company that both designs and fabs their own processors and that is still relevant.

That’s never stopped anyone from going bankrupt and wiping out shareholders. If the tech is that critical, the US government might engineer a bailout of the company, but will make the shares worthless in the process.

They did it with GM and Chrysler in 2009, they did it with Iridium in 2000.