Intel Stock Hits All-Time High After Preliminary Chip Deal With Apple
Intel and Apple have reached a preliminary agreement for Intel to manufacture some of Apple’s chips, after over a year of negotiations. Intel stock surged more than 13% on the news, marking a historic high. The specific Apple products involved are still unclear, but Apple currently ships over 200 million iPhones per year and relies almost entirely on TSMC for its chips. This deal gives Apple greater supply chain diversification and comes as Intel faces strong competition from Nvidia and AMD. The White House directly facilitated the agreement, with President Trump personally lobbying for Intel. The U.S. government owns a 9.9% stake in Intel, acquired using CHIPS Act funds, and this investment has soared in value as Intel’s stock climbed. Intel has recently launched advanced chips, attracted major investments from Nvidia and SoftBank, and installed a new CEO, Lip-Bu Tan, who has prioritized gaining new customers. The agreement with Apple is a major potential business boost, with Intel-produced Apple chips expected in about 18 months.
