Report: Apple and Intel Chip Manufacturing Talks Have Been Ongoing for Months; Executives Were Surprised by Trump's Post
Claire Weston
Apple and Intel have spent months negotiating a deal for Intel to manufacture some Apple chips in U.S. factories, but no agreement is confirmed; Trump's social-media claim that the deal was done sent Intel shares up 11% — yet insiders, including Intel executives, say the post caught them by surprise.
How far along is this deal, really?
Semafor reports Apple and Intel have been in talks for months. The core idea: Intel would fabricate some chips for Apple at its U.S. plants.
But people familiar with the matter say it is still unclear whether a deal will actually close.
The report discloses no signed documents, no deal size, no chip types, and no timeline. This means → the negotiations are still exploratory, far from a finished contract.
Why did Trump post — and why did the market react?
Trump declared on Truth Social that Apple and Intel had reached a deal. Intel's stock jumped as much as 11% in early Thursday trading.
Neither Apple nor Intel confirmed the claim. Intel's spokesperson declined to comment; Apple did not respond.
Multiple people involved, including Intel executives, were surprised by the post. In plain terms = even Intel's own leadership did not know the president was going to announce this — the post was not based on a mutually confirmed fact.
How big is the U.S. government's stake in Intel?
The U.S. government acquired a large equity stake in Intel last year, valued at roughly $9 billion at the time.
As of June 18, 2026, that stake is worth approximately $67 billion — more than a 7× increase.
This reflects an enormous financial interest in Intel's recovery. This means → the White House has a strong incentive to help Intel land major foundry customers, and the political context behind the post cannot be ignored.
What is the real state of Intel's foundry business?
Commerce Secretary Howard Lutnick described Intel's turnaround this way: "When I walked in the door, they were a dumpster fire. Now, the fire is out."
CEO Lipu Chen told CNBC the company has made clear progress on manufacturing processes, and customers are beginning to notice.
But progress is not the same as a signed deal. Semafor previously reported that Intel and AMD also held early foundry talks — and still have not reached an agreement. In plain terms = Intel's foundry story is improving, but "long negotiations with no contract" is its pattern right now — Apple is not the only case.
Content is for reference only, not financial advice.