Apple Partners With Intel on US Chips as Intel Shares Jump 6.5%
Updated
Updated · Reuters · Jun 18
Apple Partners With Intel on US Chips as Intel Shares Jump 6.5%
3 articles · Updated · Reuters · Jun 18
Summary
Trump said Apple has agreed to work with Intel to design and manufacture chips in the United States, a tie-up that would give Intel a marquee customer for its foundry business.
Apple is seeking more chip capacity and a broader manufacturing base beyond TSMC, whose advanced lines are heavily booked by AI chip demand from Nvidia and AMD.
Intel shares rose about 6.5% in premarket trading, adding to a roughly threefold gain this year after the company said its 18A manufacturing process had entered initial production.
The Wall Street Journal reported in May that Intel had reached a preliminary deal to make some chips for Apple after more than a year of talks.
The announcement fits a wider Trump administration push to localize critical semiconductor supply chains; last year Washington took a 10% Intel stake and pledged about $10 billion for U.S. factory expansion.