Intel (INTC) shares hit an all-time high on May 8 after a preliminary deal to manufacture chips for Apple, lifting the value of a U.S. government stake from $8.9 billion to $56.5 billion. The rally yielded an unrealized gain of roughly $47.6 billion for the Treasury, according to The Kobeissi Letter. The stake was built in August 2025 when the Trump administration converted unpaid federal funding into 433.3 million Intel shares at $20.47 each, repurposing CHIPS Act grants and Defense Department funds. President Trump publicly claimed credit, calling the investment a great deal for America and Intel. The Apple deal, first reported by The Wall Street Journal, marks the first time Apple has agreed to use Intel for production silicon, breaking its historical dependence on TSMC. Commerce Secretary Howard Lutnick met repeatedly with Apple CEO Tim Cook to push the partnership forward. Intel’s foundry business had been searching for an anchor customer; Microsoft signed on earlier in 2026. The Apple deal adds a major customer to Intel's foundry roadmap, supporting the broader push to onshore semiconductor manufacturing. The $47.6 billion gain remains on paper, as any sale depends on market conditions and political appetite for booking a profit on industrial policy. The equity-for-grants formula has drawn Senate scrutiny over potential windfalls. For wallet and key holders, this news is indirectly relevant as it reflects government involvement in the semiconductor supply chain, which may affect crypto-mining hardware availability and pricing if Intel's chip production shifts focus.

关键事实

• Intel shares hit all-time high after Apple deal for chip manufacturing.
• U.S. government stake in Intel grew from $8.9B to $56.5B.
• Stake built by converting unpaid federal funding into shares at $20.47.
• Apple deal ends reliance on TSMC, boosting Intel's foundry business.
• Unrealized gain of $47.6B faces scrutiny over industrial policy profits.