Investing.com -- Intel shares jumped more than 15% early Friday following a Wall Street Journal report that the company has reached a preliminary agreement with Apple to manufacture chips for Apple devices.

The two companies have been in intensive talks for over a year and finalized a formal deal in recent months, according to people familiar with the matter. Bloomberg News first reported the talks on Tuesday.

Details about which Apple products Intel would manufacture chips for remain unclear. Apple ships more than 200 million iPhones annually, along with millions of iPads and Mac computers.