President Donald Trump announced Thursday that Intel and Apple have reached an agreement to design and manufacture computer chips in the United States, a move aimed at strengthening domestic semiconductor production and reducing reliance on overseas suppliers.
Trump said the partnership would help expand America’s chip-making capabilities and support national security objectives. According to the report, Intel’s shares rose more than 9% in premarket trading following the announcement.
The development comes as Apple CEO Tim Cook warned that higher prices for iPhones and other Apple products may be unavoidable. Cook told The Wall Street Journal that soaring costs for memory and storage chips, driven by growing demand from the artificial intelligence sector, have put significant pressure on the company’s supply chain.
The report said Apple currently depends heavily on Taiwan-based manufacturing for many of its processors. The new arrangement with Intel could help diversify that supply chain while advancing Trump administration efforts to boost U.S. semiconductor production.
Trump also highlighted the federal government’s earlier investment in Intel, noting that the company’s market value has risen sharply since then.
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Intel shares jump as Trump says company will make chips for Apple https://t.co/iWbHvcbdiL
— MarketWatch (@MarketWatch) June 18, 2026
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