Trump Announces Apple and Intel Unite to Build Chips in America

President Donald Trump has announced that Apple has agreed to work with Intel to design and manufacture chips in the United States. In a post on his Truth Social platform, Trump criticised previous administrations for allowing the semiconductor industry to move overseas. “Stupid presidents thought our economy would be fine and let Taiwan and others steal our semiconductor plants,” Trump wrote. “Apple has agreed to work with Intel to design and build their chips in America.” The news was met with immediate enthusiasm from the market, with Intel shares jumping as much as 10% in pre-market trading before settling at an 8.8% gain, while Apple shares edged up 0.3%. Intel’s stock has soared 464% over the past twelve months, bringing its market capitalisation to US$608.7 billion. Trump stated he deliberately assisted Intel to bring chip production back to domestic soil, adding that the government first facilitated a partnership between Intel and Nvidia. He further revealed that Elon Musk has committed to building a giant chip factory, TerraFab, designed in collaboration with Intel’s technology teams. This project represents the first major external commitment for Intel’s foundry business, which has historically focused on producing chips for its own products. Amid ongoing geopolitical tensions in the Middle East disrupting global supply chains and driving up oil prices, AI-related stocks have remained resilient, with the PHLX Semiconductor Sector Index surging approximately 90% this year.