Industry Odisha Bureau, Jun 19: Soon after US President Donald Trump reportedly announced that Apple and Intel have inked an agreement to join hands for producing chips domestically, shares of Intel reportedly jumped about 7% yesterday.
Announcing the significant development on his official Truth Social media platform, Trump wrote, “Apple has agreed to work with Intel to design and build its Chips in America,” while he reportedly emphasized that, “it is not just important to design chips, but to produce chips domestically”.
The incumbent US President also reportedly claimed that, “the US Government acquired 10 per cent equity in Intel, helping the company’s overall valuation to shoot up to USD 600 billion from USD 100 billion. Consequently, the US Government’s holding in the company is now over USD 60 billion in just nine months.”
Also, reportedly criticising the previous US administrations for “allowing production capacity to shift overseas, particularly to Taiwan”, US President Trump also reportedly stressed that, “the Apple-Intel partnership would provide Apple with greater supply-chain diversification, as the company currently depends heavily on Taiwan Semiconductor Manufacturing Company for the production of its most advanced chips.”
Notably, “the semiconductor sector has remained a key driver of tech-market gains, supported by strong demand linked to artificial intelligence infrastructure despite geopolitical tensions and supply chain disruptions in other regions”, as claimed by international media.
