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 T

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.