Apple to work with Intel on US chip design and production, Trump says

Key Points:

• President Donald Trump announced that Apple has agreed to collaborate with Intel on designing and manufacturing chips in the U.S., aiming to bring semiconductor production back to America.
• The partnership could help Apple diversify its chip supply beyond Taiwan Semiconductor Manufacturing Company (TSMC), which currently dominates advanced chip production amid high demand from AI chipmakers.
• Intel's shares rose following the announcement, as the company seeks to regain market share and reputation after falling behind TSMC in recent years, with new manufacturing technology already entering initial production.
• The Trump administration holds a roughly 10% stake in Intel and has invested billions to expand U.S. chip manufacturing capacity, part of broader efforts to secure critical supply chains and reduce reliance on China.
• Details on the specific chips or products involved in the Apple-Intel agreement have not been publicly disclosed, but the deal would provide Intel with steady demand from a leading consumer electronics firm.