Trump’s 10% Intel (INTC) Stake Gains $47 Billion After Apple Chip Deal

Intel (INTC) shares hit a record on May 8 after a preliminary deal to manufacture silicon for Apple. The rally lifted the Trump-era U.S. government Intel stake from $8.9 billion to $56.5 billion.

Washington paid $8.9 billion for the 9.9% position eight months ago. The Treasury now sits on roughly $47.6 billion in unrealized gains, according to The Kobeissi Letter. Intel shares climbed about 18% intraday to around $129, an all-time high.

How the Trump-era Intel stake was built

In August 2025, the Trump administration converted unpaid federal funding into 433.3 million Intel shares at $20.47 each.

The deal repurposed $5.7 billion in CHIPS and Science Act grants. It also drew $3.2 billion from the Defense Department’s Secure Enclave program.

President Trump publicly claimed credit for the move, telling supporters the country now owned 10% of Intel.

“The United States paid nothing for these Shares, and the Shares are now valued at approximately $11 Billion Dollars. This is a great Deal for America and, also, a great Deal for INTEL,” Trump wrote on Truth Social at the time.

The position is held by the U.S. Treasury as a passive investor, with no board seats. The structure tied the stake to a broader chip tariff agenda.

Following news that Apple and Intel had reached an agreement for the semiconductors and chip builder to make chips in Apple devices, INTC stock jumped 15%, pushing Trump’s investment to a valuation of $56.5 billion.

“That’s a gain of +$47.6 BILLION in less than 8 months. Truly unprecedented,” analysts at the Kobeissi Letter commented.

Why the Apple deal matters for Intel

The Wall Street Journal first reported the deal, the first time Apple has agreed to use Intel for production silicon. Apple has historically depended on Taiwan Semiconductor Manufacturing Company for its custom chips.

Commerce Secretary Howard Lutnick had met repeatedly with CEO Tim Cook to push the partnership forward.

Intel’s foundry business has spent more than a year searching for an anchor customer. Microsoft signed on for the 18A process earlier this year.

April 2026 was Intel’s strongest month on record with a 114% gain. The Apple deal adds another major customer to a foundry roadmap once viewed as struggling. It feeds the broader push to onshore semiconductor manufacturing.

The $47.6 billion gain remains on paper. Any sale will hinge on market conditions. It also depends on political appetite for booking a profit on what was framed as industrial policy.

The equity-for-grants formula has drawn Senate scrutiny over Trump policy windfalls.

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