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Intel shares jumped 11% after President Donald Trump said the chipmaker will partner with Apple on chip design work based in the United States.
The announcement extended a recent rally for Intel, which has been clawing back from years of compounding headwinds in its core business.
What Was Said Trump announced the partnership without disclosing specific financial terms, timelines, or the technical scope of what Intel and Apple would build together.
The framing centered on U.S.-based chip design — a politically loaded designation at a moment when domestic semiconductor capacity is a recurring pressure point in Washington's industrial policy debates.
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