Intel shares jumped by double digits on Thursday after President Donald Trump said the company will partner with Apple to design and build chips in the U.S. It paired gains almost instantly but was still up almost 7% at 10:00 a.m. ET.

Trump said in a social media post that “Stupid Presidents took our Economy for granted, and let Taiwan and others steal our Semiconductor Factories,” claiming that they “forgot to protect our Industries with TARIFFS.”

The president went on to say that “it was clear America needed its Semiconductor Industry to come back to the U.S.A. We design everything, but we need to BUILD it here, NOW! So I decided to help Intel because we need to design and build our Chips right here in America.”

“Apple has agreed to work with Intel to design and build its Chips in America. We decided to help Intel in exchange for 10% of their shares. Is that too much or, too little? They were worth around 100 Billion Dollars when we made our offer. Now they are worth over 600 BILLION DOLLARS!” Trump added.

The company’s effort to rebuild its business under CEO Lip-Bu Tan has received fresh attention as demand for central processing units (CPUs) increases alongside the rapid expansion of artificial intelligence applications.

The company’s traditional strength remains CPUs, the processors that serve as the primary computing engine in personal computers and servers. While graphics processing units (GPUs) have become synonymous with training large AI models, CPUs are increasingly important for inference workloads, where trained models generate responses and perform tasks in real-world applications.

That shift has drawn renewed industry attention. Nvidia CEO Jensen Huang said during a Taipei presentation that “the CPU is now the conductor, and the GPU is the orchestra,” highlighting the growing role processors play in AI infrastructure.

The restructuring effort has been extensive since Tan’s arrival. Intel has reduced its workforce, divested non-core assets and paused planned factory expansions in Germany and Poland. The company has also recruited executives from outside organizations and reorganized leadership structures to reduce layers of management.

Intel has also sought new partnerships as part of its broader turnaround strategy. Earlier this month, the company announced an AI infrastructure collaboration with Foxconn aimed at expanding deployment of AI platforms globally.