Trump Announces Apple-Intel U.S. Chip Production Deal; Intel Shares Surge 10.64%

According to Semafor, President Trump announced on Thursday June 18 via Truth Social that Apple has agreed to partner with Intel to design and manufacture chips in the United States. Intel shares jumped 10.64% in response, closing at $133.99, and the Philadelphia Semiconductor Index climbed over 6.7% to historic highs.

However, sources told Semafor that some Intel executives were unaware of Trump's announcement beforehand and were surprised by the disclosure. The two companies have been in discussions for months regarding U.S.-based chip manufacturing, but the status of the deal remains unconfirmed, with neither Apple nor Intel having formally disclosed collaboration details.