Key Highlights

  • Trump confirmed Apple agreed to work with Intel to design and build chips in the United States.
  • Trump said he also helped Intel secure a foundry deal with Nvidia and with Elon Musk's Terafab.
  • The US government holds a roughly 10% stake in Intel, acquired by converting $8.9 billion in unpaid CHIPS Act grants into equity.
  • Trump claimed Intel was worth around $100 billion when his administration made its investment and is now worth over $600 billion.

US President Donald Trump announced in an early morning post on Truth Social that Apple has agreed to work with Intel Corporation (NASDAQ: INTC) to design and build its chips in America, confirming a partnership that had been reported in preliminary form the prior month.

Trump said he also helped Intel secure a foundry agreement with Nvidia and a separate deal to work with Elon Musk's Terafab, an upcoming chip venture. The announcements position Intel as a central player in the White House's push to expand domestic semiconductor manufacturing and reduce US reliance on overseas chip production.

Trump used the post to highlight the financial performance of the US government's stake in Intel, which was acquired last year by converting approximately $8.9 billion in unpaid CHIPS and Science Act grants into equity at roughly $20.47 per share. "They were worth around 100 Billion Dollars when we made our offer," Trump said. "Now they are worth over 600 BILLION DOLLARS."

The Apple deal marks a significant shift in the semiconductor supply chain. Apple designs its own chips but has historically depended on Taiwan-based manufacturers to produce them. Demand for advanced chips has surged as the AI buildout accelerates, creating supply constraints that have pushed Apple to explore diversifying its foundry relationships. Commerce Department officials had met repeatedly with Apple's chief executive to advance the partnership, which had been under discussion for more than a year before Trump's confirmation.

For Intel's foundry business, Apple represents the kind of anchor customer the division has spent years trying to secure. Microsoft had already signed on for Intel's 18A manufacturing process earlier in 2026, and the Nvidia and Terafab announcements add further external demand to a foundry roadmap that had previously struggled to attract major chip designers away from established overseas competitors.

Intel's 18A-P process, an advancement of its 18A node, entered risk production on June 17, one day before Trump's announcement, providing a timely signal that the manufacturing technology intended for these new customer relationships is progressing on schedule.