Trump Announces Apple-Intel US Chip Manufacturing Partnership; Intel Stock Surges 10.5% on Agreement Neither Company Confirms

President Trump announced via Truth Social that Apple has agreed to partner with Intel to design and manufacture semiconductors in the United States, sending Intel shares up 10.5% to $133.82—though neither company officially confirmed the arrangement, with Intel declining to comment on 'a potential Apple-Intel agreement.' The partnership, if confirmed, would help Apple diversify away from TSMC amid AI-driven chip capacity constraints that have pushed memory costs high enough for Tim Cook to warn of 'unavoidable' iPhone price increases. The US government holds a 10% stake in Intel acquired in August 2025, now valued at over $60B following the announcement-driven rally.