The Trump administration pressured Apple, Nvidia, and Tesla to sign manufacturing deals with Intel, according to The Wall Street Journal. These agreements were part of a federal initiative to rebuild domestic semiconductor production.
The U.S. government currently holds a 10% stake in Intel. This equity resulted from the conversion of $9 billion in federal grants.
Apple CEO Tim Cook reportedly committed to Intel's facilities after discussions with President Trump and the Commerce Secretary regarding tariffs. These revelations challenge the narrative that Intel's turnaround was driven solely by technological advancements.
The report also contradicts previous public statements from Nvidia’s CEO. He had formerly claimed the administration was not involved in the partnership negotiations.