Intel Jumps 9% on Apple U.S. Chip Deal, Extending 464% 12-Month Rally

3 articles · Updated · CNBC · Jun 18

Intel rose 9% in premarket trading after Donald Trump said Apple had agreed to work with the company to design and build chips in the United States.
The announcement gives Intel's foundry push a marquee customer after years of manufacturing delays and a long wait for major outside chip-production business.
Lip-Bu Tan, who became CEO early last year, has helped revive investor interest by drawing backing from Nvidia and the Trump administration; Intel's market value has reached $608.7 billion.
Apple shares were up 0.6%, and the move lands in a broader semiconductor boom that has kept AI-linked stocks strong even as Middle East conflict disrupts supply chains and lifts oil prices.
The PHLX Semiconductor Sector Index is up 90% this year, underscoring how demand for AI infrastructure has buoyed chipmakers while Intel attempts a U.S. manufacturing comeback.