Intel rises after Trump says Apple will work with chipmaker

Intel shares climbed 7% on Thursday after President Donald Trump said on Truth Social that Apple had agreed to partner with Intel to design and build semiconductors in the United States. Intel shares were last up 8.8%, while Apple was trading 0.3% higher in premarket activity. Intel’s market capitalization stood at ?.7 billion at the time of the announcement.

The announcement reinforces the White House push to reshore semiconductor manufacturing and gives Intel a potential boost as CEO Lip-Bu Tan works to rebuild confidence in its foundry business. Intel had struggled with manufacturing delays, lost market share, and missed much of the early AI infrastructure investment cycle. Its stock has surged 464% over the past 12 months, helped by renewed investor interest, Nvidia investment, and backing from the Trump administration.

Trump also said Nvidia had agreed to build chips with Intel and that Elon Musk had agreed to build TerraFab with Intel’s technology team. The broader chip sector has been strong, with the Nasdaq PHLX Semiconductor Sector Index up 90% year to date. Comments from Intel, Apple, and the White House were not immediately available, and details on formal agreements and timelines remain undisclosed.