Intel ($INTC) shares surged after President Donald Trump said Apple ($AAPL) agreed to work with Intel to design and build chips in the United States. Trump said the partnership follows prior domestic chipmaking commitments involving Nvidia and Elon Musk's Terafab project, and highlighted the U.S. government's roughly 10% stake in Intel as part of an earlier support agreement.
- Trump announced the Apple-Intel arrangement in a Truth Social post Thursday.
- Intel shares rose as much as 12% to a record $135.13 in New York trading.
- Apple shares gained as much as 1.5% following the post.
- Intel has been trying to attract major external customers for its foundry business under CEO Lip-Bu Tan.
- Trump said the U.S. government's Intel stake is now worth more than $60 billion.
- Apple has reportedly explored using Intel and Samsung to produce device processors in the United States.
Relevant Companies
- Intel ($INTC) - A potential Apple foundry relationship would support Intel's turnaround strategy and domestic chipmaking ambitions.
- Apple ($AAPL) - The company could shift more chip design and production activity toward U.S.-based semiconductor manufacturing.
- Nvidia ($NVDA) - Trump cited Nvidia as part of broader U.S. semiconductor production efforts involving Intel.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
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