What you are describing is an accidental Clippy, just like humans are accidental CO2 maximizers. Which is a fair point, if we meet what looks like an alien Clippy, we should not jump to conclusions that paperclip maximizing is its terminal value.
Also, just to nitpick, if you have a lot of mass available, it would make sense to lump all this iron together and make a black hole, as you can extract a lot more energy from throwing stuff toward it than from the nuclear fusion proper. Or you can use fusion first, then throw the leftover iron bricks into the accreting furnace.
So the accidental Clippy would likely present as a black hole maximizer.
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Heh, clever. In a sense, iron has the highest entropy (atomically speaking) of any element. So if you take the claim that an aspect of solving intergalactic optimization problems involves consuming as much negentropy as possible, and that the highest entropy state of space time is low-density iron (see schminux's comment on black holes), then Clippy it is. It seems though like superintelligent anything-maximizers would end up finding even higher entropy states that go beyond the merely atomic kind.
...Or even discover ways that suggest that availability of negentropy is not an actual limiter on the ability to do things. Does anyone know the state of that argument? Is it known to be true that the universe necessarily runs out of things for superintelligences to do because of thermodynamics?
Empirically we seem to be converging on the idea that the expansion of the universe continues forever (see Wikipedia for a summary of the possibilities), but it's not totally slam-dunk yet. If there is a Big Crunch, then that puts a hard limit on the time available.
If - as we currently believe - that doesn't happen, then the universe will cool over time, until it gets too cold (=too short of negentropy) to sustain any given process. A superintelligence would obviously see this coming, and have plenty of time to prepare - we're talking hundreds of trillions of years before star formation ceases. It might be able to switch to lower-power processes to continue in attenuated form, but eventually it'll run out.
This is, of course, assuming our view of physics is basically right and there aren't any exotic possibilities like punching a hole through to a new, younger universe.