Apple and Intel have reached a preliminary agreement for Intel to manufacture
some chips for Apple devices, following more than a year of talks, according to
people familiar with the matter. The Trump administration helped facilitate the
deal after converting nearly $9 billion in federal grants into a 10% stake in
Intel. Commerce Secretary Howard Lutnick reportedly met with Apple CEO Tim Cook,
Elon Musk and Nvidia CEO Jensen Huang to encourage partnerships with Intel.
Apple currently relies on TSMC for chip production and has cited advanced chip
shortages as a constraint on supply.
