WASHINGTON, D.C. — Intel shares increased by 8 percent on Thursday, reaching a record high. The rise followed an announcement by President Donald Trump that Apple would collaborate with Intel to design and manufacture semiconductors within the United States.

Intel has not publicly confirmed the chip manufacturing arrangement with Apple. Bernstein analyst Stacy Rasgon increased the price target for Intel shares to $100 from $65 on Wednesday. Intel has also begun production of its 18A-P semiconductor manufacturing process.

Financial television host Jim Cramer commented on Intel's market position, stating, "This is my No. 1 name. It's not Nvidia anymore." Cramer also said that demand for central processing units could increase substantially with the expansion of artificial intelligence deployments. He cited projections suggesting artificial intelligence infrastructure requirements could shift from one central processing unit per eight graphics processing units to four central processing units per graphics processing unit. Cramer added that Intel chief executive officer Lip-Bu Tan believes the ratio of central processing units to graphics processing units in artificial intelligence infrastructure could rise substantially.

Cramer stated that technology companies are increasingly seeking alternatives to overseas chip manufacturing. He identified this trend as an opportunity for Intel. Cramer said, "When it's covered by tech analysts, you're going to find that this is going to get a totally different valuation. That's one of the reasons why we're hanging on." Intel shares have increased approximately 370 percent since Tan became chief executive officer in March 2025.