Intel shares rose sharply in premarket trading after President Donald Trump announced that Apple had agreed to work with the chipmaker on designing and manufacturing semiconductors in the United States.
Trump said in a Truth Social post that the partnership would help strengthen domestic chip production and reduce reliance on overseas manufacturing. He criticized previous administrations for allowing semiconductor production to shift abroad, according to the report.
Following the announcement, Intel stock climbed about 9%, while Apple shares posted modest gains. The report said Intel has staged a significant comeback in recent months, with its stock soaring more than 460% over the past year and its market value reaching roughly $609 billion.
Neither Intel nor Apple immediately commented on the announcement, according to the report. Investors appeared to view the proposed partnership as a positive step for the U.S. semiconductor industry and Intel’s long-term growth prospects.
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Intel rises 9% after Trump says company will partner with Apple on U.S. chip design https://t.co/jnmFYqF3Lr
— CNBC (@CNBC) June 18, 2026
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