By Timothy Green
Publication Date: 2026-01-22 11:35:00
Nvidia is now outspending Apple at TSMC. Intel may benefit the most from the shift.
Demand for Nvidia‘s AI chips is so strong that the GPU giant has reportedly dethroned Apple as TSMC‘s largest customer. That news comes straight from Nvidia CEO Jensen .
Apple has long enjoyed special treatment from TSMC. The company gets to jump to the head of the line for new manufacturing processes, and it also reportedly doesn’t pay TSMC for defective dies, which is an unusual arrangement. However, as Apple’s business no longer matters quite as much to TSMC amid exploding demand for AI chips, rumors are circulating that Apple is losing some of those privileges. Going forward, it appears Apple will need to compete for manufacturing capacity alongside the rest of TSMC’s customers and face hefty price increases.
Who’s the big winner from Apple’s misfortune? Surprisingly, it’s Intel (INTC +11.72%).
Image source: Intel.
Apple rumors are looking more likely
Multiple analysts have upgraded Intel stock recently, and one of the reasons is a rumor that Apple is close to choosing Intel to manufacture some of its chips. According to the rumors, Apple is considering using a version of the Intel 18A process for its lower-end M-series chips. That could translate into 15 million to 20 million chips annually, according to analyst Ming-Chi Kuo.
Additionally, some analysts have noted that Apple is also rumored to be exploring the Intel 14A process for future iPhone chips. Intel 14A is expected to launch…
