President Donald Trump revealed Thursday via Truth Social that Apple has agreed to work with Intel to design and manufacture chips in the United States, sending Intel shares surging over 10%. The announcement marks a significant development in the push for domestic semiconductor production, though neither Apple nor Intel formally confirmed the deal when initially contacted for comment.
Intel had been in exploratory talks with Apple for months about producing some chips stateside, with the partnership initially focusing on legacy designs for older Apple devices. TSMC remains Apple's primary supplier for its highest-end silicon, but the agreement is expected to give Apple greater supply chain flexibility amid ongoing trade tensions and political pressure to reduce reliance on Taiwan.
Intel shares jumped $12.72, or 10.5%, to $133.82 shortly after trading opened Thursday, leading semiconductor stocks broadly higher. The move aligns with Trump's broader campaign to push tech giants toward domestic manufacturing — the president also mentioned Nvidia and Elon Musk's Terafab chipmaking ambitions in the same Truth Social post.