Donald Trump announces Apple-Intel US chip partnership, Intel stock jumps
Business
Intel's stock shot up 7% on Thursday, thanks to former president Donald Trump announcing a new partnership between Apple and Intel.
The two companies will team up to design and make semiconductors in the US a move aimed at bringing more chip production back home after years of it heading overseas.
Intel chip-making revival under Lip-Bu Tan
This deal is a big win for Intel's push to revive its chip-making business, led by Lip-Bu Tan.
It's also part of a larger plan to strengthen America's tech supply chains, with Trump mentioning similar efforts involving NVIDIA.
With AI and tech demand rising (global tensions shaking up supply), investors are hopeful about a turnaround for Intel.