Intel Shares Rally After Trump-Apple Chip Deal Talk, Backs $190M AI Startup
INTC•Intel shares jumped 3.84% in premarket trading after President Trump said Apple will team with Intel to build chips in the US, following Thursday’s all-time closing high of $133.99. Meanwhile, Mizuho raised its price target to $135 and Intel backed Upscale AI’s $190 million Series A-1 at a $2 billion valuation.
1. Premarket Rally on Apple Partnership Claim
Intel shares rose 3.84% in premarket trading after President Trump announced on social media that Apple had agreed to work with Intel to design and build chips in the United States. The rally extended last Thursday’s gain that sent shares to an all-time closing high of $133.99, though neither company has formally confirmed the arrangement.
2. Analyst Upgrade and Long-Term Outlook
Over the weekend, Mizuho lifted its price target on Intel stock to $135 from $128, maintaining a Neutral rating. The firm highlighted Intel’s EMIB-T and Foveros advanced packaging technologies as potential drivers to capture 10%–15% of the advanced packaging market over the long term.
3. Strategic AI Networking Investment
Intel joined more than 80 companies supporting Upscale AI’s open networking standard after the startup raised $190 million in a Series A-1 round at a $2 billion valuation. The move underlines Intel’s commitment to reducing latency in large AI model training by enabling interoperability across chips, memory, and storage.
