Intel's U.S. stock surged over 12% in after-hours trading, currently up over 9%. It is reported that Intel has approached Taiwan Semiconductor seeking investment or cooperation
Intel's U.S. stock rose more than 12% at one point in after-hours trading and is currently up over 9%. According to The Wall Street Journal, the Trump administration plans to restrict overseas chip imports. Chip manufacturer Intel has reached out to Taiwan Semiconductor to discuss investment or cooperation in the manufacturing sector. Previously, Intel also negotiated with Apple to seek investment. Intel had discussed forming a joint venture with Taiwan Semiconductor but is at a disadvantage in competition with rivals such as NVIDIA and AMD. The CEO of Intel is working to bring in partners to turn the situation around
According to Zhitong Finance APP, Intel's U.S. stock rose more than 12% in after-hours trading and is currently up over 9%. The Wall Street Journal reports that the Trump administration plans to restrict overseas chip imports.
Media reports, citing informed sources, indicate that chip manufacturer Intel (INTC.US) has contacted Taiwan Semiconductor (TSM.US) to discuss investment or cooperation in the manufacturing sector. Recently, it was reported that Intel is in negotiations with Apple (AAPL.US) seeking investment from the latter for the struggling chip manufacturer. Both Intel and Taiwan Semiconductor declined to comment on the report.
It is worth mentioning that in April, there were reports that Intel and Taiwan Semiconductor discussed a preliminary agreement to establish a joint venture, with Taiwan Semiconductor holding 20% of the new company's shares.
Intel was once a leader in the chip industry, claiming to make the "silicon" in "Silicon Valley" a reality, but in the booming artificial intelligence race, Intel has struggled to compete with peers like NVIDIA and Advanced Micro Devices (AMD.US). Intel has invested billions of dollars to establish its foundry business, but this business has struggled to compete with Taiwan Semiconductor and has almost failed to attract external customers.
Intel's CEO Pat Gelsinger has been working to bring in partners as part of efforts to turn around the struggling chip manufacturer. Last week, NVIDIA announced a $5 billion investment in Intel, planning to collaborate in the personal computer and data center chip sectors. Japan's SoftBank Group also announced a $2 billion investment in Intel last month. In August of this year, with the mediation of the Trump administration, the U.S. government acquired about 10% of Intel's shares through a non-traditional transaction
