intelThe company’s stock rose 7% on Thursday after President Donald Trump announced the semiconductor company had agreed to a deal with the United States. apple Design and manufacture chips in the USA
“Stupid presidents took our economy for granted and let Taiwan and others steal our semiconductor factories,” Trump said in a post on Truth Social. “Apple has agreed to work with Intel to design and manufacture chips in the United States.”
After years of struggling as the company relinquished its dominant position in the market, Intel’s stock price has recently risen significantly. The company’s stock price has increased 464% over the past 12 months, giving it a market cap of $608.7 billion.
Intel shares were up 8.8% last time, while Apple was up 0.3% in pre-market trading.
CNBC has reached out to Intel, Apple, the White House and the UK’s representative office in Taipei for comment.
Intel’s stock price since the beginning of the year.
Intel largely stayed out of the AI race for years as it dealt with manufacturing delays and waited for big customers for its chip-making business.
But CEO Lip Vu Tan, who took the helm early last year, has revived Wall Street’s interest in the struggling chipmaker by attracting international investment. Nvidia And the Trump administration.
“The reason we’re supporting Intel is because we need chips to be designed and manufactured right here in America,” President Trump said Thursday on Truth Social.
“First, we supported Nvidia’s implementation and they agreed to build the first level chips with Intel,” he added. “Next, Elon agreed to build TerraFab, the world’s largest chip factory, which we designed in collaboration with Intel’s technology team.”
The Terafab project is the first major outside effort for Intel’s capital-intensive foundry business, which has traditionally only made chips for its own products.
While conflict in the Middle East has disrupted supply chains and sent oil prices soaring, the AI boom has so far dragged down infrastructure stocks, particularly those related to technology.
The Nasdaq PHLX Semiconductor Sector Index, made up of the 30 largest U.S. semiconductor companies, is up 90% since the beginning of the year.
