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Intel, Apple were in talks for months about chip deal claimed by Trump
Semafor • • business
Key Points:
- President Donald Trump's late-night post on Truth Social announcing a US chipmaking deal between Apple and Intel caused Intel shares to surge 9%, surprising even Intel executives.
- Intel and Apple have been in discussions for months about manufacturing some chips in the US, though the current status of talks remains unclear.
- The US government holds a significant stake in Intel, which has increased in value from $9 billion to approximately $67 billion, reflecting Intel's recent turnaround.
- Intel is aggressively expanding its foundry business and improving chip-manufacturing processes, seeking to compete with rivals like TSMC.
- A partnership with Apple would significantly bolster Intel's foundry efforts, which have struggled despite substantial investment over the years.
