Intel Rises 9% After Trump Announces Apple Chip Partnership

Intel's stock rose around 9% in premarket trading on Thursday after President Donald Trump announced the semiconductor company had agreed to a partnership with Apple to design and build chips in the U.S. Trump made the announcement via a post on Truth Social, stating that Apple has agreed to work with Intel to design and build its chips in America. The partnership comes as Intel's stock has surged 464% in the past 12 months, with the company reaching a market cap of $608.7 billion after years of struggling and relinquishing its dominant market position.

Trump Announces Intel-Apple Partnership on Truth Social

President Donald Trump posted on Truth Social criticizing previous administrations for allowing Taiwan and others to take semiconductor manufacturing capacity from the U.S. In the same post, Trump stated that Apple has agreed to work with Intel to design and build its chips in America. CNBC has approached Intel and Apple for comment on the announcement.

Intel Stock Surges 464% Over Past 12 Months

Intel's stock has seen significant gains recently after struggling for years and having relinquished its dominant market position. The stock has surged 464% in the past 12 months. The company hit a market cap of $608.7 billion. Intel shares were last 8.7% higher in premarket trading on Thursday.

Apple Stock Rises 0.6% in Premarket Trading

Apple's stock was up 0.6% in premarket trading on Thursday following Trump's announcement of the partnership with Intel. The collaboration involves Apple working with Intel to design and build chips domestically in the United States.

FAQ

What did President Trump announce about Intel and Apple on Thursday?

President Donald Trump announced on Truth Social that Intel had agreed to a deal with Apple to design and build chips in the U.S. Trump stated that Apple has agreed to work with Intel to design and build its chips in America.

How much has Intel's stock risen in the past 12 months?

Intel's stock has surged 464% in the past 12 months, with the company reaching a market cap of $608.7 billion. On Thursday, Intel shares rose around 9% in premarket trading following Trump's announcement of the Apple partnership.