Trump Announces Apple and Intel Partnership to Produce Chips in U.S.
President Donald Trump said Apple has agreed to work with Intel to design and produce chips in the United States, prompting a surge in Intel's stock price. The announcement was made by Trump, though neither Apple nor Intel confirmed the details.
President Donald Trump said Apple has agreed to work with Intel to design and produce chips in the United States. Intel's shares surged following the announcement. According to Gizmodo.com, Intel reached a preliminary agreement to produce some chips for Apple after more than a year of discussions. Trump has been calling for Intel and Apple to work together since his administration acquired a 10% stake in Intel, according to Gizmodo.com. Apple relies heavily on TSMC for advanced chip production, according to Dawn. Apple did not immediately respond to a request for comment from Gizmodo.com, and Intel declined to comment on the reported agreement. Trump framed the partnership as reversing decades of manufacturing moving overseas. Intel's decline relative to Nvidia and AMD and competition from TSMC were noted as context.
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