Investors and consumers have all grown weary of persistent inflation, and the state of the economy has been top of mind on Wall Street and Main Street alike. There was finally some good news on that front, as the latest read on inflation was better than expected, igniting a broad-based market rally.
Shares of Intel (NASDAQ:INTC) are up 4% heading into midday trading Wednesday on reports that the world's leading contract chipmaker, Taiwan Semiconductor Manufacturing (NYSE:TSM), has proposed a groundbreaking joint venture with U.S.
Intel stock jumps 5.36% on reports of a TSMC joint venture, but the stock remains in a strong downtrend.
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Taiwan Semiconductor Manufacturing has pitched Nvidia and rival chip designers Advanced Micro Devices and Broadcom the idea of taking stakes in a joint venture to operate Intel's chip-fabrication operations, it was reported.
Reuters reports that TSMC has approached Nvidia, Broadcom and others about a JV that would run Intel's factories. But that arrangement would face some roadblocks.
The company is hanging on by a thread amid rumors it may be broken up and sold – an instability keenly felt in Ohio
TSMC has pitched U.S. chip designers Nvidia , Advanced Micro Devices and Broadcom about taking stakes in a joint venture that would operate Intel's factories, according to four sources familiar with the matter.
Recently, Zacks.com users have been paying close attention to Intel (INTC). This makes it worthwhile to examine what the stock has in store.
Strong demand by hyperscalers, CSPs, AI, Auto, industrial and data center customers are fueling robust sales of semiconductors.
During President Biden's tenure in the Oval Office, his administration made it a point to boost investment in domestic manufacturing. One of the administration's accomplishments came in 2022, when Biden signed the CHIPS and Science Act -- a law that seeks to invest $280 billion into research and development and semiconductor manufacturing here in the U.S.
Investors appear to be now be discounting recent M&A speculation that Intel will split in two.