Shares of Intel (NASDAQ: INTC) are soaring this week, up 24.1% as of 3:13 p.m. ET. The spike comes as the S&P 500 (SNPINDEX: ^GSPC) was up 1%, and the Nasdaq-100 was up 0.5%.

A potential deal with the Trump administration is shaping up to be a saving grace for Intel (INTC), which saw its shares climb Friday while other semiconductor stocks slid. President Trump told a group of reporters aboard Air Force One Friday morning that he could put tariffs on imported chips as soon as next week.