Intel Corporation shares surged 3% in premarket trading following a public statement from President Donald J. Trump confirming that Apple Inc. has agreed to partner with the semiconductor pioneer to design and manufacture chips domestically.
The announcement marks a critical victory for the government-backed chipmaker under Washington’s aggressive push to reshore critical tech infrastructure through strategic tariffs and federal intervention.
“Apple has agreed to work with Intel to design and build its Chips in America,” President Trump stated, highlighting the government’s 10% equity stake in Intel, which has swelled to over $60 billion as the company’s valuation crossed the $600 billion threshold.
The high-profile partnership with Apple caps off a string of massive domestic wins for Intel. According to the executive statement, Nvidia has already committed to manufacturing its first-level chips using Intel’s facilities. Furthermore, Elon Musk has partnered with Intel’s engineering team to develop “TeraFab,” which is slated to become the largest chip manufacturing facility in the world.
The swift operational turnaround comes at a pivotal time for Intel, which Trump noted was valued at roughly $100 billion when initial federal restructuring discussions began. Fueled by newly secured manufacturing commitments from tech giants Apple, Nvidia, and Tesla, the company’s market value has increased by over half a trillion dollars in just nine months.
