Intel's shares jumped more than 9% in premarket trading Thursday after President Trump announced the chipmaker will partner with Apple to design and manufacture semiconductors domestically.
Intel Corp. saw significant stock gains following Trump's statement that Apple has agreed to work with the semiconductor company to produce chips in America.
The announcement marks a potential boost for Intel's domestic manufacturing efforts at a time when the chipmaker has faced competitive pressures. Trump's declaration of the partnership appeared to signal confidence in Intel's role in onshoring semiconductor production.
Apple has historically relied on Taiwan Semiconductor Manufacturing Company (TSMC) for chip production. A shift toward domestic manufacturing with Intel could represent a strategic realignment in the supply chain, particularly as US policymakers have prioritized reducing dependence on foreign semiconductor manufacturers.
The exact scope of the partnership remains unclear, including which specific chips would be produced domestically and on what timeline. Trump's announcement did not provide additional technical or commercial details about the arrangement.
Intel has been investing heavily in domestic manufacturing capacity in recent years, supported by the CHIPS and Science Act. The company operates fabs in Arizona and Ohio, with additional facilities planned.
The stock surge reflects investor optimism about potential revenue opportunities from a high-profile partnership with Apple, one of the world's largest semiconductor purchasers. However, Intel faces ongoing challenges in manufacturing competitiveness against TSMC and Samsung.
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