AI Generated Image
Intel stock rises after Trump touts U.S.-built chip deal with Apple
CNBC • • business
Key Points:
- Intel's stock surged nearly 9% in premarket trading following President Donald Trump's announcement that Apple will collaborate with Intel to design and manufacture chips in the U.S.
- The move is part of Intel's recent resurgence under CEO Lip-Bu Tan, who has attracted investments from Nvidia and support from the Trump administration to revitalize the company's chip fabrication business.
- Intel's stock has gained 464% over the past year, reaching a market capitalization of $608.7 billion, reflecting renewed investor confidence amid the AI boom and semiconductor sector growth.
- Trump highlighted previous deals involving Nvidia and Elon Musk's Terafab project, emphasizing efforts to bring semiconductor manufacturing back to America.
- The semiconductor sector has remained strong despite global supply chain disruptions and geopolitical tensions, with the Nasdaq PHLX Semiconductor Sector Index up 90% year-to-date.
