President Donald Trump said that the U.S. lost semiconductor manufacturing to Taiwan and other countries and lauded his efforts to bring chip production back to America.
Trump took to Truth Social early Thursday and highlighted the partnerships he facilitated between Intel Corporation (NASDAQ:INTC), Nvidia Corporation (NASDAQ:NVDA) and Tesla Inc. (NASDAQ:TSLA) to design and manufacture chips domestically.
“…we helped bring in Nvidia, and they agreed to build their first level Chips with Intel. Next, Elon agreed to build his TerraFab, the largest Chip Factory in the World, designed together with Intel’s Technology team,” Trump wrote.
He then confirmed that Apple Inc. (NASDAQ:AAPL) has also “agreed to work” with Intel to design and build its chips in the U.S.
Trump also blamed previous administrations for allowing the semiconductor technology, which was “invented” in the U.S., to decline by failing to implement protective tariffs.
The President also highlighted how Intel’s value has surged from about $100 billion to over $600 billion since the U.S. investment nine months ago, boosting America’s stake to more than $60 billion.
“When was the last time a President made America money??” he wrote.
Apple Explores Intel-Made Chips
Trump’s post comes after a Wall Street Journal report in May suggested that Apple and Intel have reached a preliminary deal for Intel to manufacture some Apple-designed chips, potentially reducing Apple’s reliance on Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:TSM) and reshaping the semiconductor supply chain.
The companies have not revealed which Apple products will use Intel-made chips, and key terms of the agreement remain undisclosed.
Apple and Intel did not immediately respond to Benzinga’s request for comments.
US Intel Stake Generates Return
On Wednesday, Intel’s 18A-P semiconductor node entered the risk production phase, marking a significant milestone in the company’s advanced manufacturing timeline. This development aligns with the schedule Intel shared with customers and partners in 2025.
The U.S. government acquired a 9.9% passive stake in Intel in August, purchasing 433.3 million shares at $20.47 each through an $8.9 billion investment tied to the CHIPS Act and Secure Enclave funding. At Intel’s current price of $120.10, the government’s stake is now worth nearly $52.04 billion, representing an unrealized gain of about $43.14 billion, or almost a 5.8x return on the original $8.9 billion investment.
Price Action: On a year-to-date basis, Intel stock surged 207.52%, as per data from Benzinga Pro. On Wednesday, it rose 3.46% to close at $121.10.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock
