Apple has agreed to work with Intel to design and manufacture its chips in the U.S., President Donald Trump said on Thursday, in what would be a major boost for the American chipmaker's efforts to ‌turn around its business. An Apple contract would lock in steady demand from one of the world's largest consumer electronics companies, boosting Intel's reputation and sales as it looks to close the gap with rival TSMC - the world's biggest contract chipmaker For Apple, the deal would help diversify its manufacturing base and add chip capacity at a time when its key partner TSMC ⁠has been stretched thin by surging demand from AI chipmakers such as Nvidia and AMD. Apple and Intel did not immediately respond to Reuters requests for comment. Intel shares rose 7% to a record, set to add to their threefold gain so far this year, while Apple was up 0.8%.