John Coogan

So let's start with the Intel news.

It's up almost 20% today on the news that they will be making chips for Apple.

There's a report in the Wall Street Journal about this.

They've released, reached a preliminary chip making agreement.

It's not completely locked in, but there's a whole bunch of extra context here that we've been tracking for the last six months, 12 months, as some of this was expected.

the revitalization of Intel was something that a lot of folks were clamoring for, Ben Thompson, myself, a lot of folks were all hoping for something, and plans are starting to come together.

So the talks have been described as intensive, intensive talks between the two companies have been ongoing for more than a year, Apple's been talking to Intel.

Interesting, of course, Intel and Apple have been long-term partners for,

the 90s, 2000s, up until the Apple Silicon program where they started going, Apple started going direct to TSMC.

Can they get them back?

It seems like potentially in some form factors, but we're going to dig into it.

So they have hammered out a former deal in recent months, and it's still unclear which exact Apple products Intel would make chips for and manufacture them, both its own designs.

So Intel has two main businesses.

It's both a design shop and a manufacturer.

They have a fab and a manufacturer.

and a design unit.

In its foundry unit, both businesses have been underperforming for years before Liputan came in as the new CEO and was vowing to revitalize them.

And so last summer, the Trump administration struck a deal to convert nearly $9 billion in federal grants into Intel stock, giving the US 10% stake.

Yeah, huge.

I mean, I'm pretty sure Jensen has made over a billion dollars on the $5 billion investment.