Intel stock rises after Trump touts U.S.-built chip deal with Apple
IntelThe company’s shares rose 9 percent in premarket trading Thursday after President Donald Trump said the semiconductor company had agreed to a deal. Apple Design and manufacture chips in the USA
“Stupid Presidents underestimated our Economy and allowed Taiwan and others to steal our Semiconductor Factories,” Trump said in a post on Truth Social. he said. “Apple has agreed to work with Intel to design and manufacture its chips in America.”
Intel’s shares have made significant gains recently after struggling for years and abandoning its dominant position in the market. The company’s market value reached $608.7 billion, while its stock increased by 464% in the last 12 months.
Intel shares were last up 8.8%, while Apple shares were up 0.6% in premarket trading.
CNBC has contacted Intel, Apple, the White House and the Taipei Representative Office in the United Kingdom for comment.
Intel has been sharing since the beginning of the year.
For years, Intel has largely fallen behind in the AI race as it struggles with production delays and waits for a major customer for its chipmaking business.
But CEO Lip-Bu Tan, who took over early last year, has revived Wall Street’s interest in the struggling chip maker by attracting investment. Nvidia and the Trump administration.
“I decided to help Intel because we need to design and manufacture our chips right here in America,” Trump said on Truth Social on Thursday.
“We helped bring in Nvidia first, and they decided to produce their first-level chips with Intel,” he added. “Elon then agreed to build TerraFab, the world’s largest Chip Factory, designed in conjunction with Intel’s Technology team.”
The Terafab project is the first major external commitment to Intel’s capital-intensive foundry business, which produces chips exclusively for its own products.
While conflicts in the Middle East have disrupted supply chains and caused oil prices to soar, the AI boom has so far isolated stocks, especially those tied to technology-related infrastructure.
Nasdaq’s PHLX Semiconductor Industry Index, which covers the 30 largest U.S.-listed chip companies, is up 90% so far this year.
