Intel shares jump after President Trump announces U.S. chip partnership with Apple
Intel stock rose nearly 9% in pre-market trading following President Donald Trump's claim that the company will design and manufacture chips for Apple in the United States.
Intel's shares climbed about 9% in early Thursday trading after President Donald Trump posted that the chipmaker had reached an agreement with Apple to design and produce chips domestically. The company’s stock has risen sharply over the past year, gaining roughly 464% and reaching a market value of around $609 billion. Apple’s stock also edged higher, up about 0.6% in pre-market activity.
Trump’s statement on his social-media platform said, "Apple has agreed to work with Intel to design and build its chips in America." He also claimed the administration helped bring Nvidia into a manufacturing partnership with Intel and that Elon Musk had agreed to build a large chip-fabrication facility, referred to as the "TerraFab," in collaboration with Intel’s technology team.
Intel has been working to revive its foundry business after years of manufacturing delays and a weakened market position. CEO Lip-Bu Tan, who took over last year, has sought new customers and investment, including from Nvidia. The TerraFab project would be Intel’s first major external commitment for its capital-intensive foundry operations, which previously produced chips only for its own products.
Analysts note that while geopolitical tensions and supply-chain disruptions have affected some sectors, the broader AI boom continues to support semiconductor stocks. The Nasdaq PHLX Semiconductor Sector Index, which tracks the 30 largest U.S.-listed chip firms, is up about 90% year-to-date.