Intel rises 9% after Trump says company will partner with Apple on U.S. chip design

Intel's shares experienced a notable increase of approximately 9% during premarket trading on Thursday. This surge followed President Donald Trump's announcement that the technology giant has reached an agreement with Apple to collaborate on the design and production of chips within the United States. In a post shared on Truth Social, Trump expressed his discontent regarding previous administrations, stating, "Stupid Presidents took our Economy for granted, and let Taiwan and others steal our Semiconductor Factories." He emphasized the significance of the partnership, declaring, "Apple has agreed to work with Intel to design and build its Chips in America." This announcement comes as Intel has been on a recovery path after facing challenges in maintaining its market dominance. Over the past year, the company's stock has skyrocketed by an impressive 464%, bringing its market capitalization to $608.7 billion. As of the latest updates, Intel's shares were up by 8.7%, while Apple experienced a modest increase of 0.6% in premarket trading. Both companies have been approached by CNBC for further comments regarding this development. Stay tuned for more updates on this evolving story.