US President Donald Trump has announced that Apple has agreed to work with Intel on chip design and manufacturing inside the United States, according to Analytics Insight, which reported that Trump made the announcement in a post on his Truth Social platform.
News of the partnership sent Intel's stock higher. Analytics Insight reported that Intel shares surged following the announcement, a sign that investors see the prospect of Apple's business as a meaningful boost for the chipmaker.
The deal lands as Intel works to rebuild its struggling foundry operation — the part of the business that manufactures chips, including for outside customers. According to Seoul Economic Daily, Intel is racing to rebuild that foundry with backing from Trump, whom it described as a top shareholder in the company.
That detail is notable: it places the president in the unusual position of both promoting a corporate partnership and holding a significant stake in one of the companies involved, according to Seoul Economic Daily's characterization.
The sources here describe the announcement and the market reaction, but do not detail the financial terms of the Apple-Intel arrangement, a timeline, which specific chips would be produced, or how the manufacturing work would be divided. Apple has long relied on outside foundries to build the processors it designs, so an agreement to manufacture with Intel in the US would mark a shift worth watching as more details emerge.
Why it matters: bringing advanced chip production back to American soil is a central goal of US industrial policy, and a commitment from Apple — one of the world's most valuable companies — to manufacture with Intel domestically could be a significant step toward that aim, while also raising questions given the president's reported financial stake in Intel.