Overview
- Analyst Ming‑Chi Kuo reports Apple signed an NDA with Intel and is testing the 18AP 0.9.1GA process kit for an entry‑level M‑series SoC.
- The next gate is Intel’s 18AP PDK 1.0/1.1 expected in early 2026, after which tape‑outs could proceed if power, performance, area and yields meet targets.
- If qualified, Intel would serve strictly as a contract manufacturer for Apple’s lowest‑tier M chips used in devices like MacBook Air and some iPads, with TSMC retaining high‑end volumes.
- Initial output is estimated at roughly 15–20 million units annually starting in mid‑to‑late 2027, a scale described as having little near‑term impact on TSMC’s fundamentals.
- Intel shares jumped about 10% on the reports, even as risks remain around toolchain readiness, yield validation, and a new TSMC lawsuit alleging confidential information leaks.