KEY POINTS
- Intel (NASDAQ: INTC) stock surged after President Trump said Apple has agreed to design and build chips with Intel inside the United States.
- Intel is now up more than 250% in 2026, helped by a government-backed turnaround and big-name partners like Nvidia.
- Neither Apple nor Intel has confirmed the deal yet, so treat it as promising news, not a done deal.
- For ASX investors, the bigger story is chip “reshoring,” which supports local AI and critical-minerals stocks.
Intel (NASDAQ: INTC) shares are soaring after a surprise announcement from the White House. President Donald Trump said on social media that Apple has agreed to work with Intel to design and build its computer chips inside the United States. Investors cheered: Intel jumped more than 10% to around US$133.82 after touching a fresh record high of US$135.48 earlier in the session.
The stock is now up more than 250% this year, lifting Intel’s market value to roughly US$672 billion. The question now is whether this is the moment Intel’s long, painful turnaround finally pays off.
Why This Deal Is Such a Big Win for Intel
For years, Intel was the struggling giant of the chip world. It fell behind its rivals, lost customers, and watched its share price sink. The comeback plan rests on its “foundry” business, making chips for other companies, not just for itself.
That’s why Apple matters so much. Apple currently relies on Taiwan’s TSMC to make all of its most advanced chips. But TSMC is stretched thin as the whole industry races to build AI chips. If Apple shifts even some of that work to Intel, it hands Intel a huge, steady customer and a powerful stamp of approval. In simple terms, landing Apple tells the market that Intel’s factories are finally good enough for the best in the business.
One important catch: neither Apple nor Intel has officially confirmed the deal, and no details on its size or timing have been shared. So this is encouraging news, but not yet locked in.
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Washington Is the Real Driver
The hidden hand here is the US government. Last August, it took a roughly 10% stake in Intel, turning billions of dollars in subsidies into shares. Since then, Trump has helped line up deals between Intel and other giants, including a US$5 billion investment from Nvidia and a chip-factory partnership with Elon Musk’s ventures.
The message is clear: Washington wants chips made on American soil, and it is using Intel as the centrepiece. That government backing lowers Intel’s risk and helps explain why investors keep piling in.
What It Means for ASX Investors
You can’t buy Intel on the ASX, but the trend behind it is very investable here. The global push to make chips outside Asia, known as “reshoring”, supports local AI names like Weebit Nano (ASX: WBT), Archer Materials (ASX: AXE) and Brainchip (ASX: BRN).
It also boosts the material’s story. Chips need silicon, gallium and rare earths, which feed straight into Australia’s critical minerals plays such as Arafura and IperionX (ASX: IPX).
Our take: Intel’s rebound looks real, but after a 250%+ run this year, a lot of good news is already in the price. For new investors, chasing the stock at a fresh record high is risky. The smarter play may be the Australian companies riding the very same wave, at far cheaper valuations.
