Intel Shares Soar After Trump Says It Struck Apple Chip Deal

Intel Corp. stock rose over 9% in premarket trading on Thursday following a statement by US President Donald Trump. Trump announced that Intel will collaborate with Apple Inc. on the design and domestic production of semiconductors. This potential partnership aims to bolster US manufacturing capabilities in the critical chip industry. The announcement came during a period of heightened focus on supply chain resilience and domestic technology production. While specific details of the agreement were not immediately disclosed, the prospect of Intel and Apple working together on chip manufacturing in the United States generated significant investor optimism. This development could represent a substantial win for Intel, potentially securing a major new client and boosting its manufacturing orders. For Apple, it could offer greater control over its supply chain and reduce reliance on overseas manufacturing. The US government has been actively encouraging domestic semiconductor production through various initiatives, and this reported deal aligns with those objectives.