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Intel Apple Partnership: Intel shares jumped sharply in premarket trading Thursday after President Donald Trump publicly announced that Apple has agreed to partner with the chipmaker to design and manufacture chips on American soil.
The stock climbed as much as 9% before the opening bell, with the rally triggered by Trump's announcement on Truth Social.
"Stupid Presidents took our Economy for granted, and let Taiwan and others steal our Semiconductor Factories," Trump wrote.
"Apple has agreed to work with Intel to design and build its Chips in America." A partnership with Intel would allow Apple to diversify its manufacturing base as it seeks additional chip capacity.
The iPhone maker currently relies heavily on Taiwan Semiconductor Manufacturing Company, whose advanced production lines face intense competition from AI chipmakers such as Nvidia and AMD.
Intel reached a preliminary deal to make some chips for Apple after more than a year of discussions, according to a Wall Street Journal report published in May.
The announcement marks a significant milestone for Intel, which spent years struggling to reclaim its footing in the semiconductor industry.
The stock has seen remarkable gains recently after relinquishing its dominant market position for years, surging 464% over the past 12 months and reaching a market cap of $608.7 billion.
Trump also used the post to tout broader manufacturing wins tied to Intel.
He said Nvidia had agreed to build its first-level chips with the company, and that Elon Musk committed to constructing TerraFab — described as the largest chip factory in the world — developed in collaboration with Intel's technology team.
The TerraFab project represents the first major outside commitment for Intel's foundry business, which had previously manufactured chips solely for its own product line.
Intel CEO Lip-Bu Tan, who took over early last year, has been credited with reviving Wall Street's confidence in the company by drawing investments from Nvidia and the Trump administration.
Neither Apple nor Intel responded to requests for comment outside regular business hours.
At last check, Intel shares were up 8.8%, while Apple traded 0.6% higher in premarket.
The broader chip sector also reflected the optimism, with the Nasdaq PHLX Semiconductor Sector Index — tracking the 30 largest U.S.-traded chip companies — up 90% so far this year.
Visual Disclaimer: This is an AI-generated illustrative portrait. It is used for creative representation and does not depict a real-time event. Created by AD News Live.
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