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Key Takeaways
- Intel shares soared Wednesday, amid a broader rally for chip and AI-exposed stocks.
- Nvidia and Apple are planning to shift some 2028 chip production to Intel, DigiTimes reported Wednesday, adding to fuel to earlier rumors they could become clients.
Could Intel be closer to winning new chipmaking contracts from Nvidia and Apple?
On a day when chip stocks were rising broadly, helped by strong orders and a rosy outlook from semiconductor-equipment maker ASML (ASML), Intel (INTC) shares were among the biggest gainers. The stock jumped 11% Wednesday as a report suggested the struggling chipmaker could be set to win some new clients for its manufacturing business.
Nvidia (NVDA) and Apple (AAPL) are planning to shift some 2028 chip production to Intel, while still maintaining their relationships with current supplier Taiwan Semiconductor Manufacturing Co. (TSM), according to a report from Taiwan-based DigiTimes.
Intel declined to remark on the report. TSMC, Apple, and Nvidia did not respond to Investopedia’s requests for comment in time for publication.
Why This Is Significant
Chipmaking deals with Nvidia and Apple would represent a major step forward for Intel, which has struggled to win new customers for its manufacturing business, and could boost confidence in its stock.
During Intel’s earnings call last week, CEO Lip-Bu Tan said the company has been engaging a few prospective customers that are in the process of evaluating its manufacturing processes, according to a transcript provided by AlphaSense. It’s unclear whether they included Apple and Nvidia.
The report from DigiTimes, which has added fuel to earlier rumors that Nvidia and Apple are considering new contracts with Intel, nodded to U.S. manufacturing mandates and tariff pressures as forces in Intel’s favor.
Some Wall Street analysts have also previously suggested a deal with Intel could be seen as a way to win some political goodwill, after President Donald Trump brokered a deal last year that saw the U.S. government take a 10% stake in the chipmaker.
Meanwhile for TSMC, the word’s largest chip manufacturer, “the anticipated order diversions to Intel may represent more opportunity than threat,” DigiTimes wrote, as such moves could ease regulatory scrutiny and U.S. political pressure.
TSMC shares advanced 1% Wednesday, while Nvidia climbed close to 2%, and Apple slipped about 1%.
With today’s gains, shares of Intel have added nearly a third of their value in 2026 so far.
