Intel stock rises after Trump links Apple to U.S. chip deal

Intel shares climbed after President Donald Trump posted that Apple had agreed to work with Intel to design and manufacture chips in the United States. The stock rose about 2.7% in after-hours trading and had moved as much as 5.7% earlier in overnight trading. Intel shares have gained more than 200% year to date.

In a post on Truth Social, Trump wrote: “First, we helped bring in Nvidia, and they agreed to build their first level Chips with Intel. Next, Elon agreed to build his TerraFab, the largest Chip Factory in the World, designed together with Intel’s Technology team. And, finally, Apple has agreed to work with Intel to design and build its Chips in America.”

Apple currently designs most of the key processors used in its devices and relies largely on external foundries for fabrication. An agreement to design and build chips with Intel in the United States would add a U.S.-based production option for Apple while giving Intel a new potential customer.

Analyst Ben Bajarin of Creative Strategies described Intel as “the only place that can scale up capacity as a viable second source.” Intel’s foundry business has previously faced delays and yield challenges, and the company remains its primary foundry customer for internal products.

Intel recently announced an updated 18A-P manufacturing process and said it had entered risk production, a low-volume phase used to evaluate defect rates and manufacturing variability before scaling to full production. The company reported that 18A-P offers performance and power improvements compared with its earlier 18A node.

Television host Jim Cramer encouraged investors to focus on future growth prospects, saying, “When it comes to Intel, I think the answer is up,” and pointing to rising demand for processors tied to artificial intelligence infrastructure.

Neither Intel nor Apple immediately confirmed a formal contract following the president’s post. Company representatives did not provide details on the scope, timing or technical specifications of any agreement. Industry observers note that moving significant volume of advanced chip production to a new supplier typically involves lengthy technical and commercial negotiations.