Donald Trump makes 'Apple announcement' for Intel; says: Stupid Presidents took ...

US President Donald Trump has announced that Apple has agreed to work with Intel to design and manufacture chips in the US. This will mark what he described as a step toward rebuilding the country's semiconductor industry.

In a post on Truth Social, Trump said the partnership would help bring chip production back to America after years of manufacturing shifting overseas.

In his post, Trump wrote, "Stupid Presidents took our Economy for granted, and let Taiwan and others steal our Semiconductor Factories."“Apple has agreed to work with Intel to design and build its Chips in America,” Trump added later in the post. The reported collaboration comes as Apple looks to diversify its chip manufacturing supply chain beyond Taiwan Semiconductor Manufacturing Co.

(TSMC), whose advanced production capacity remains in high demand from AI chipmakers including Nvidia and AMD.

Read Donald Trump’s full announcement message on Intel’s Apple chip deal

In his Truth Social post, Trump wrote: “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”

What we know about Intel’s Apple chip deal

According to a Wall Street Journal report from May, Intel reached a preliminary agreement to manufacture some chips for Apple after more than a year of discussions.

Since Trump’s announcement, Intel shares rose about 6.5% in premarket trading, adding to gains recorded this year.A potential Apple contract could provide Intel with a consistent source of demand from a major consumer electronics company and support the growth of its contract manufacturing business, which has faced competition from TSMC in recent years.Earlier this week, Intel said its next-generation 18A manufacturing technology had entered initial production as the company reported continued demand for its central processing units (CPUs).Last year, the Trump administration acquired a 10% stake in Intel and announced plans to invest approximately $10 billion in the company to build or expand semiconductor manufacturing facilities in the US.Trump later said he "should have asked for more" of a stake in Intel after the government's investment increased significantly in value. The administration has also expanded efforts to strengthen domestic supply chains for semiconductors and critical minerals, including taking equity stakes in companies as part of broader efforts to reduce dependence on China.