Intel (INTC) and Taiwan Semiconductor Manufacturing Co (TSM) recently reached a preliminary agreement to form a joint venture to operate the U.S. firm's chipmaking facilities, the Information reported on Thursday, citing two people involved in the discussions.
TSMC will take a 20% stake in the new company, the report added.
Shares of Intel were up nearly 5%, while U.S.- listed shares of TSMC were down about 6%. Reuters said in an exclusive report in March that TSMC had pitched U.S. chip designers Nvidia, Advanced Micro Devices and Broadcom to take stakes in a joint venture that would operate Intel's factories.
The Trump administration initiated the Intel-TSMC talks in an effort to revitalize Intel, the report said.
(Reporting by Jaspreet Singh in Bengaluru; Editing by Shinjini Ganguli) CoreWeave's stock (CRWV) is enjoying a rip-your-face-off rally since debuting to a muted reception on the Nasdaq less than a week ago.
Shares of the AI cloud play spiked 41% on Tuesday and popped 11% to $58.60 in early Wednesday trading.
"In the first few days of trading, I would expect it to be added to various AI baskets which are very prominent right now," D.A. Davidson software analyst Gil Luria told me on what's driving the robust market action this week.
TSMC will take a 20% stake in the new company, the report added.
Shares of Intel were up nearly 5%, while U.S.- listed shares of TSMC were down about 6%. Reuters said in an exclusive report in March that TSMC had pitched U.S. chip designers Nvidia, Advanced Micro Devices and Broadcom to take stakes in a joint venture that would operate Intel's factories.
The Trump administration initiated the Intel-TSMC talks in an effort to revitalize Intel, the report said.
(Reporting by Jaspreet Singh in Bengaluru; Editing by Shinjini Ganguli) CoreWeave's stock (CRWV) is enjoying a rip-your-face-off rally since debuting to a muted reception on the Nasdaq less than a week ago.
Shares of the AI cloud play spiked 41% on Tuesday and popped 11% to $58.60 in early Wednesday trading.
"In the first few days of trading, I would expect it to be added to various AI baskets which are very prominent right now," D.A. Davidson software analyst Gil Luria told me on what's driving the robust market action this week.
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