TLDR
- President Trump posted on Truth Social that Apple has agreed to work with Intel to design and manufacture chips in the US.
- Intel stock rose over 7% in premarket trading, touching $129.84 — which would be an all-time high.
- The Apple-Intel preliminary deal was first reported by the Wall Street Journal in May after more than a year of talks.
- Intel has now surged roughly fourfold since the US government took a 10% stake in the company last August.
- Neither Apple nor Intel has officially confirmed the partnership.
Intel (INTC) stock surged more than 7% in premarket trading on Thursday after President Trump announced on Truth Social that Apple has agreed to partner with Intel to design and produce chips in the United States.
Intel touched $129.84 in premarket trade. At that level, it would mark an all-time high for the Santa Clara-based chipmaker if it holds through the session.
Trump wrote: “I decided to help Intel because we need to design and build our Chips right here in America.” The post framed the Apple deal as part of a broader push to bring semiconductor production back to US soil.
The announcement wasn’t entirely out of nowhere. The Wall Street Journal reported in May that Apple and Intel had reached a preliminary agreement for Intel to manufacture some chips for Apple devices, following more than a year of discussions.
Trump says Apple has agreed to work with Intel to design and build chips in America.
He also said Nvidia & Elon are working with Intel, and that the U.S. took a 10% stake in Intel when it was worth around $100B. Intel is now worth over $600B, making America stake worth over $60B pic.twitter.com/mtgfchbR0H
— Wall St Engine (@wallstengine) June 18, 2026
Neither Apple nor Intel confirmed the partnership by the time of publication. Both companies did not respond to requests for comment outside regular business hours.
Why Apple Is Looking Beyond TSMC
Apple relies heavily on TSMC for chip manufacturing. But TSMC’s advanced production lines are under heavy pressure from AI chipmakers like Nvidia and AMD, which are competing for the same capacity.
A partnership with Intel gives Apple another manufacturing option and helps reduce that dependency. For Intel, landing Apple as a customer brings consistent, high-volume demand from one of the world’s largest consumer electronics companies.
Trump noted that Nvidia and Elon Musk’s Terrafab had previously agreed to work with Intel as well, positioning the chipmaker as a growing hub for US-based semiconductor production.
Intel’s Manufacturing Push
Intel’s own manufacturing business has trailed TSMC for years. That gap has made the company’s foundry ambitions a tough sell — until recently.
Earlier this week, Intel said its next-generation manufacturing technology, known as 18A, has entered initial production. The company said it’s seeing strong demand for its central processors.
The US government’s involvement has added fuel to Intel’s recovery. Last year, the Trump administration took a 10% stake in Intel and committed roughly $10 billion to help build or expand US factories.
Trump later said he “should have asked for more” of a stake, eight months after the government’s Intel position grew to be worth more than $50 billion.
Intel stock has now risen roughly fourfold since that government investment was announced last August. Thursday’s premarket move extended a roughly threefold gain already logged this year.
Apple stock fell about 1.1% in premarket trading on the news, while AMD edged up around 1%.
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