Intel and Apple Reach Preliminary Chip Manufacturing Deal, Sending Intel Shares Up 15%

Intel has reached a preliminary agreement to manufacture some chips for Apple devices, according to a Wall Street Journal report citing people familiar with the matter. The talks lasted over a year. Intel shares surged nearly 15% on the news, extending a year-to-date gain of over 200%. Apple currently relies solely on TSMC for its most advanced chips. The U.S. government, which became Intel's largest shareholder in 2025, played a role in brokering the deal, aligning with the administration's goal of reshoring semiconductor production. The specific chips Intel would produce have not been disclosed, though analysts expect Apple may start with less advanced components like Apple Watch S-series chips before migrating to leading-edge designs.