Intel could gain a major foundry customer as Apple looks to reduce its reliance on TSMC
What just happened? President Trump says that Apple has agreed to work with Intel to design and build its chips in America. In a Truth Social post, Trump complained that "Stupid Presidents" had "let Taiwan and others steal our Semiconductor Factories."
Amazon, Google, Microsoft and others are expected to participate
The big picture: With electricity bills rising due to surging demand from AI data centers, President Trump has called for technology companies to either build their own power plants or help finance new power generation facilities. The directive comes amid growing protests from rural communities over energy-intensive AI data centers that have been rapidly expanding across the country.