Trump says that Apple agreed to cooperate with Intel in designing and manufacturing chips in the US
Bernstein's managing editor and senior analyst Mark Newman talks about the future of Apple's intelligence after the release of their new Siri AI in 'The Claman Countdown.'
President Donald Trump said Thursday that Apple has agreed to partner with Intel to design and manufacture chips in the US
“When I won my Second Term, it became clear that America needs its Semiconductor Industry to return to the USA. We design everything, but we need to BUILD here, NOW! So I decided to help Intel because we need to design and build our Chips right here in America,” Trump wrote on Truth Social.
The partnership could help Apple diversify its manufacturing base as it looks for more chip capacity. The tech giant relies heavily on the Taiwan Semiconductor Manufacturing Company, which has advanced production lines that are in high demand for AI chip makers such as Nvidia and Advanced Micro Devices.
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Apple has agreed to work with Intel to design and manufacture its chips in the US (Wina McNamee/Getty Images/Getty Images)
Intel shares rose in market trading following the announcement from the president.
“The technology the world relies on was invented in America. We all remember 'Intel Inside.' Stupid presidents are taking our economy for granted, allowing Taiwan and others to steal our Semiconductor Factories,” Trump said.
Intel has reportedly reached an initial deal to make chips for Apple after more than a year of negotiations. Apple and Intel have not publicly announced which chips or products will be involved.
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The partnership will help Apple diversify its manufacturing base as it looks for more chip capacity. (REUTERS/Joshua Roberts/File Photo / Reuters Images)
Apple's contract will give Intel a strong hold on the electronics giant after its reputation and manufacturing business have fallen behind TSMC in recent years.
Earlier this week, Intel announced that a new generation of its manufacturing technology, 18A-P, has entered initial production, as the chipmaker works to meet the demand for advanced processors.
Last year, the Trump administration took a nearly 10% stake in Intel and announced plans to invest billions of dollars in the chipmaker to build or expand factories in the US.
The Trump administration took a 10% stake in Intel last year and announced plans to invest about $10 billion in the manufacturer to build or expand factories in the US. (Getty Images / Getty Images)
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The Trump administration took about 10% of Intel's share last year and announced plans to invest billions of dollars in the chipmaker to build or expand factories in the US.
Trump previously said he “should have asked for more” of Intel after the value of Intel's federal government position increased significantly.
“When was the last time the President made money in America??” Trump wrote on Thursday.
The administration has been ramping up efforts to protect the US supply chain for essential minerals and semiconductors, including taking equity stakes in companies as part of an effort to reduce dependence on China.
Reuters contributed to this report.
