President Donald Trump announced that Intel has struck a deal with Apple to start producing computer chips in the United States. This move will help Apple diversify its manufacturing base, as the company largely relies on Taiwan to manufacture the processors that power its iPhones, iPads, and Mac computers.

Deal Details

The Trump administration has previously helped Intel, making an $8.9 billion investment in Intel’s stock last August. The government took a roughly 10% stake in the company to help its ongoing efforts to expand research and manufacturing facilities in the US, while ensuring access to a domestic advanced-chip supply chain for national security purposes.

Apple CEO Tim Cook told the Wall Street Journal that price hikes on its products are “unavoidable” because of the rising costs of memory and storage chips sparked by the AI boom. “We’re doing our best to mitigate the huge increases that are being passed to us, and we’ve been trying to shield our customers from the increases, but the situation has become unsustainable,” Cook said.

Original reporting: KRDO (Colorado Springs metro) — read the source article.