Intel Hits All-Time High on Apple Chip Talk Reports

CNBC reported Tuesday that Intel shares surged 14% to a fresh all-time high, driven by reports that Apple is exploring Intel as a domestic chip supplier. The move extends one of the most dramatic stock reversals in recent semiconductor history.

Apple Explores Intel Chip Talks

Bloomberg reported that Apple is in active discussions with both Intel and Samsung to manufacture the main processors used in its consumer devices. The iPhone maker has historically relied on Taiwan Semiconductor Manufacturing Co for chip production. Neither Intel nor Samsung commented publicly. Apple did not respond to requests for comment. The prospect of shifting some chip production to U.S. manufacturers aligns with broader political pressure to reduce reliance on Asian foundries.

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A Record-Breaking Run for Intel

Tuesday’s jump arrives hot on the heels of an already extraordinary April for the chipmaker. Intel’s stock climbed 114% last month, its strongest single-month performance in 55 years of trading on the Nasdaq. The rally pushed Intel’s market capitalisation past $470 billion. Several catalysts underpinned that April surge. Intel announced an expanded partnership with Google, confirmed participation in Elon Musk’s Terafab manufacturing initiative, and agreed to repurchase its Fab 34 facility in Ireland for $14.2 billion.

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AI Demand and Government Backing Fuel the Turnaround

The longer-term recovery story is equally striking. Intel is now up more than 330% since the U.S. government acquired a 10% stake last August, committing $8.9 billion to the company. Nvidia added further momentum in September with a $5 billion investment of its own. CEO Lip-Bu Tan argued on Intel’s first-quarter earnings call that central processing units remain an essential building block for AI infrastructure. Rising AI workloads have renewed enterprise appetite for CPUs, a product category Intel dominates. President Trump weighed in on the rally last week via Truth Social, claiming personal credit for the stock’s climb and celebrating returns to U.S. taxpayers. Intel’s turnaround marks a sharp contrast to its position just months ago, when persistent manufacturing delays left the company struggling to compete in an AI-driven chip market.

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