Intel and Apple reached a preliminary agreement for Intel to manufacture some chips for Apple after more than a year of talks. News sent Intel shares up over 13% to an intraday high of $130.57—surpassing its dot‑com era peak. The U.S. government’s 9.9% CHIPS Act stake in Intel, bought at $20.47, has grown to well over $50 billion. President Trump and the White House played a direct outreach role. Which Apple products Intel will make is unclear; initial production may target lower-volume items and first Intel-made Apple chips could be about 18 months away. The report notes Intel’s broader turnaround efforts, including Panther Lake 18A and outside investments from Nvidia and SoftBank.

Preliminary Intel–Apple manufacturing agreement and an immediate >13% intraday share jump to $130.57 (above dot‑com peak) indicate positive, market-moving news for Intel; production timeline ~18 months and unclear product scope temper immediate operational impact; U.S. government stake appreciation and reported White House outreach are factual context cited in the summary.