India, June 18 -- Intel Corp. (INTC) saw a big jump in its shares on Thursday after President Donald Trump announced that the semiconductor giant had struck a deal with Apple Inc. (AAPL) to design and produce chips right here in the U.S.
Intel's stock shot up by 10.8%, increasing by $13.09 to reach $134.19, following Trump's post on Truth Social about the collaboration with Apple on domestic chip fabrication. Apple's shares also ticked up slightly in premarket trading.
Trump emphasized that this partnership aims to bring semiconductor manufacturing back to America, criticizing past administrations for allowing production to shift overseas.
He claimed that Intel has garnered support from other tech powerhouses, like Nvidia, and mentioned ...