Intel’s stock jumped 11% in premarket trading on Thursday after President Trump announced that the semiconductor company had agreed to a deal with Apple to design and manufacture chips in the U.S.
President Trump announced the news in a detailed post on Truth Social, stating:
“The Technology the World relies on was invented in America. We all remember “Intel Inside.” Stupid Presidents took our Economy for granted, and let Taiwan and others steal our Semiconductor Factories. They forgot to protect our Industries with TARIFFS. When I won my Second Term (Third, actually!), it was clear America needed its Semiconductor Industry to come back to the U.S.A. We design everything, but we need to BUILD it here, NOW! So I decided to help Intel because we need to design and build our Chips right here in America. 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. We decided to help Intel in exchange for 10% of their shares. Is that too much or, too little? They were worth around 100 Billion Dollars when we made our offer. Now they are worth over 600 BILLION DOLLARS! Nine months, and they’ve increased in value over HALF A TRILLION DOLLARS. America’s stake is now over 60 Billion Dollars. When was the last time a President made America money?? Thank you for your attention to this matter! President DONALD J. TRUMP”
The new partnership comes as Intel’s CEO Lip-Bu Tan, who assumed his role early last year, has reignited Wall Street’s interest in the struggling chipmaker by securing investments from Nvidia and the Trump administration.
The Terafab project marks Intel’s first significant outside investment in its foundry business, which previously only manufactured chips for its own products.
Following the announcement Apple shares were also up 0.6% in premarket trading.
By CEO NA Editorial Staff
