Intel and Apple strike chip deal, Trump says in Truth Social post – The Columbus Dispatch
(Reuters) – U.S. President Donald Trump said in a Truth Social post June 18 that Apple has agreed to work with Intel to design and manufacture its chips in the United States.
A partnership with Intel helps Apple diversify its manufacturing base as it seeks additional chip capacity. The iPhone maker relies heavily on TSMC, whose advanced production lines are in high demand from AI chipmakers such as Nvidia and AMD.
In a lengthy post about his role in re-shoring technology jobs in America, Trump wrote, “And, finally, Apple has agreed to work with Intel to design and build its Chips in America.”
Intel shares rose 7% to a record, set to add to their threefold gain so far this year, while Apple was up 0.8%.
Trump did not specify which chips Intel would make for Apple in the Truth Social post about the agreement. He said it was his latest effort to help Intel, in which the U.S. government has a 10% stake, after pushing for deals with Nvidia and Tesla.
Intel reached a preliminary deal to make some chips for Apple after more than a year of discussions, the Wall Street Journal reported in May.
The chipmaker is building a multibillion-dollar semiconductor manufacturing complex in New Albany, a highly anticipated project that has been plagued with delays in recent years. The Apple deal is expected to buoy the Ohio One campus, as it creates a ready pipeline of customers.
Apple and Intel did not immediately respond to a Reuters’ request for comments outside regular business hours.
An Apple contract gives Intel a steady demand from one of the world’s largest consumer electronics companies, boosting both its reputation and a manufacturing business that has lagged TSMC in recent years.
Earlier this week, Intel said a new generation of its manufacturing tech 18A has entered its initial production, as the chipmaker sees strong demand for its central processors.
Last year, the Trump administration took a 10% stake in Intel and announced plans to invest roughly $10 billion in the chipmaker to build or expand U.S. factories.
Trump previously said he “should have asked for more” of a stake in Intel, eight months after the government’s Intel position grew to be worth more than $50 billion.
The administration has been stepping up efforts to secure U.S. supply chains for critical minerals and semiconductors, including taking equity stakes in companies to reduce reliance on China.
(Reporting by Anusha Shah in Bengaluru; Editing by Janane Venkatraman and Sherry Jacob-Phillips)
