Intel Jumps 9% After Trump Announces Apple U.S. Chip Deal

3 articles · Updated · Semafor · Jun 18

Intel shares surged 9% on Thursday after Donald Trump said Apple and Intel had struck a U.S. chipmaking deal, extending an earlier premarket rally.
Intel executives were among those surprised by the late-night Truth Social post, even though Apple and Intel had been discussing U.S. manufacturing for months, according to a person familiar with the matter.
The status of those talks remains unclear, and neither company confirmed the announcement—Intel declined comment and Apple did not immediately respond.
A deal with Apple would bolster Intel’s foundry push as it tries to win manufacturing customers and challenge TSMC after years of heavy spending.
The announcement also lifts the value of the U.S. government’s Intel stake, taken last year at about $9 billion and now worth roughly $67 billion at current market prices.