Intel surges 15%+ on report it will manufacture chips for Apple devices!

Intel shares jumped more than 15% after reports emerged that the chipmaker will manufacture chips for Apple devices — a partnership that would mark a significant shift in Apple's supply chain and a major win for Intel's foundry ambitions.

For Intel, landing Apple as a foundry customer would validate its multi-billion-dollar bet on rebuilding domestic chip manufacturing capacity under the CHIPS Act framework. Apple has historically relied on TSMC for its custom silicon, making any move toward Intel a headline-level supply chain realignment.

The scale of the single-session move — over 15% — reflects how transformative the market views the potential deal. Intel's foundry division has been the company's most closely watched turnaround story, and an Apple contract would be among the strongest possible signals that the strategy is gaining traction.