Intel Shares Soar After Trump Says It Struck Apple Chip Deal

Intel shares jumped Thursday after President Donald Trump announced the chipmaker has struck a deal with Apple Inc. to design and manufacture semiconductors in the United States. Trump disclosed the partnership without providing additional details on scope, timeline, or financial terms.

The announcement marks a potential inflection point for Intel, which has struggled to regain its footing in advanced chipmaking while Apple has relied on Taiwan Semiconductor Manufacturing Company for its custom silicon. A domestic manufacturing arrangement would align with both companies' stated goals: Intel CEO Pat Gelsinger has positioned the company's foundry services as a key pillar of its turnaround strategy, while Apple has faced increasing pressure to diversify its supply chain away from Taiwan.

Intel has been investing heavily in U.S. fabrication capacity, with new facilities under construction in Arizona and Ohio as part of the CHIPS Act buildout. Apple currently designs its own A-series and M-series processors but outsources all production to TSMC.