Intel's stock jumped about 9% in premarket trading on Thursday after Donald Trump said Apple has agreed to work with Intel to design and build its chips in the United States.
Trump made this claim in a post on Truth Social, where he pushed the idea of bringing chip production back to America.
Intel shares were up about 8.8% in premarket trading, while Apple also rose slightly by around 0.6%.
Before Thursday's move, Intel stock had already been rising strongly over the past year due to a turnaround in investor confidence.
Intel's market value has reached about $608.7 billion after its recent rally in the stock market.
