President Donald Trump stated that his intervention in Intel Corporation (NASDAQ:INTC) has resulted in substantial gains for the U.S. chipmaker. However, he is not sure if he would invest more in the company.
“I don’t know about Intel but I’ll invest more in other things,” Trump said.
Speaking to reporters at Joint Base Andrews in Maryland on Tuesday, Trump said that after he assisted Intel, the company’s valuation soared. He added that Intel’s success had attracted other major players’ investment, as Apple Inc. (NASDAQ:AAPL) and Nvidia Corporation (NASDAQ:NVDA) “went in.”
The president also hinted at further investments in other companies, stating, “We have some other ones that we’re looking at.”
He also mentioned a similar deal in Alaska, the Ambler Road Project, where the U.S. in October, acquired a significant stake in a company in exchange for assistance in building a road and unlocking the mineral potential of the region.
Earlier this month, Trump praised the chipmaker and CEO Lip-Bu Tan on Truth Social, reiterating the U.S. government’s investment in the company. The government took a 10% stake in Intel in August through an $8.9 billion investment linked to CHIPS Act funding, making it Intel’s largest shareholder.
Intel’s AI And Apple Chip Moves
Intel’s AI initiatives also received a significant boost when it secured a $5 billion investment from Nvidia. This investment was part of Intel’s AI reset strategy, which aims to position the company as a leader in the AI space. In addition to the Nvidia investment, Intel has obtained a separate $2 billion commitment from SoftBank Group (OTC:SFTBF) (OTC:SFTBY).
As for Apple, Intel has reportedly approached the iPhone maker in September to discuss a potential investment, according to Bloomberg News. However, no further development on this front has been announced yet. Meanwhile, Apple has reportedly signed an NDA to explore Intel’s advanced “18A” chip manufacturing process, fueling speculation that it may outsource entry-level M-series chip production to Intel by 2027.
Benzinga’s Edge Rankings place Intel in the 96th percentile for momentum and 53rd percentile for value, reflecting its mixed performance. Check the detailed report here.
Price Action: Over the past 6 months, Intel stock surged 146.30%, as per data from Benzinga Pro. On Tuesday, the stock climbed 7.33% to close at $47.29, after a KeyBanc upgrade due to strong AI server demand.
Image via Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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