Key Highlights
- A preliminary manufacturing agreement has been established between Intel and Apple for producing chips destined for Apple products.
- INTC shares ended the trading session up nearly 14%, having reached a peak increase of over 19% during intraday trading.
- Apple shares rose more than 2% following the announcement.
- Commerce Secretary Howard Lutnick worked extensively with Apple CEO Tim Cook to facilitate the partnership, with support from the Trump administration.
- Negotiations between the technology giants have been underway for more than a year, culminating in a formal arrangement during recent months.
Intel (INTC) has secured a landmark manufacturing partnership — a preliminary arrangement to produce chips for Apple.
INTC shares jumped over 19% intraday on May 9, 2026, ultimately settling with a gain of nearly 14%. Apple (AAPL) posted gains exceeding 2% during the same trading session.
Negotiations for the partnership have spanned more than a year. The companies finalized the arrangement in recent months, though specific details regarding which Apple product lines will utilize Intel-manufactured chips remain undisclosed. Apple distributes over 200 million iPhones each year, alongside millions of iPads and Mac computers.
Both Apple and Intel declined to provide official statements.
White House Involvement Facilitated the Partnership
The agreement emerged through strategic governmental intervention. Commerce Secretary Howard Lutnick conducted multiple meetings throughout the past year with senior Apple executives, including CEO Tim Cook, to promote collaboration with Intel.
President Trump advocated directly for Intel during a White House session with Cook. “As soon as we went in, Apple went in, Nvidia went in, a lot of smart people went in,” Trump stated in January.
During the previous summer, the Trump administration restructured nearly $9 billion in federal grants into equity ownership of Intel stock, establishing a 10% governmental stake in the semiconductor manufacturer. This governmental endorsement appears to have strengthened Intel’s position when pursuing external partnerships.
Intel CEO Lip-Bu Tan, who assumed leadership in spring 2025, has also established partnerships with SpaceX and Nvidia — positioning Apple as the third prominent company to join Intel’s foundry client portfolio.
Manufacturing Division Receives Significant Validation
Tan has pursued an aggressive strategy to revitalize Intel’s production division, designated as Intel Foundry, following years of competitive disadvantage against rivals including TSMC and Samsung.
He recruited former TSMC executive Wei-Jen Lo — a decision that resulted in legal action from TSMC — and has allocated substantial resources toward Intel’s cutting-edge manufacturing technology, designated 14A.
Tan has also reorganized leadership across Intel’s data center processor and client computing divisions while establishing a newly created custom silicon unit.
On the announcement date, Intel stock reached a record intraday peak of nearly $118 per share before continuing its upward trajectory.
Intel’s GF Score registers at 71/100, with momentum receiving a 9/10 rating. The valuation score stands at 1/10, and according to GuruFocus, the stock trades at $124.92 — significantly above its GF Value of $28.02.
Insider transactions over the previous three months show $4.0 million in stock sales, with zero purchases reported during the identical timeframe.
