Trump Claims Apple Signed a Chip Deal with Intel

US President Donald Trump stated that Apple signed a deal with Intel to produce computer chips inside the US. “I decided to help Intel because we need to design and build our Chips right here in America,” Trump wrote on Truth Social.

He added that Apple’s agreement was the latest in a series of wins for his domestic chip strategy, following similar commitments from Nvidia and Elon Musk’s TeraFab project with Intel. The Apple agreement marks another significant win for Intel. CEO Lip-Bu Tan, who spent much of last year shoring up the company’s balance sheet through major external investments, now appears to be delivering on operational improvements which seemed unlikely just a year ago.

For Apple, the partnership offers a chance to diversify a supply chain which currently depends heavily on TSMC to produce the processors powering its iPhones, iPads and Mac computers. Any agreement will likely be a foundry deal, since Apple already designs its own silicon. A domestic chip supply deal from Intel could give Apple more flexibility in an increasingly constrained global market.

Trump’s post also allowed him to tout the government’s earlier bet on Intel. Last August, his administration converted roughly $8.9 billion in federal funding into an equity stake of around 10% in the company. He noted in his post that Intel was worth around $100 billion when the government made its offer, and is now “worth over $600 billion.”