Intel stock jumps 13% after securing preliminary agreement to manufacture chips for Apple, marking its highest price since 2000.
Intel shares climbed to an all-time high of $130.57 on May 8, 2026, following a preliminary chip manufacturing deal with Apple. The stock surged over 13% intraday, surpassing its dot-com era peak of $75.81 by 72%.
The agreement ends more than a year of negotiations and comes as Intel faces stiff competition from Nvidia and AMD. Apple currently relies on TSMC for most of its chips, but the deal could diversify its supply chain, particularly for lower-volume products.
The U.S. government, holding a nearly 10% stake in Intel bought at $20.47 per share, played a role in brokering the deal. President Trump personally lobbied Apple CEO Tim Cook to finalize the agreement.