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,

Shares of Intel rose on Wednesday following a Reuters report that TSMC has pitched Nvidia, AMD, and Broadcom on a plan to run Intel's chip manufacturing business.

Chip designers Nvidia and Broadcom are running manufacturing tests with Intel , two sources familiar with the matter told Reuters, demonstrating early confidence in the struggling company's advanced production techniques.

KEY TAKEAWAYS Shares of Intel are jumping more than 7% in premarket trading Wednesday following a report that TSMC has approached U.S. chip designers Nvidia, Advanced Micro Devices, and Broadcom about forming a joint venture to own and run the chipmaker's foundry division.

TSMC has proposed jointly operating Intel's foundry division with Nvidia, Advanced Micro Devices (AMD), and Broadcom. U.S. President Trump and TSMC announced a further $1

By Fanny Potkin, Milana Vinn and Wen-Yee Lee SINGAPORE/NEW YORK/TAIPEI (Reuters) -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,

Intel entered the foundry business in 2010 in an attempt to make itself a one-stop shop for semiconductors. It had excess manufacturing capacity and saw a chance to monetize its advanced process technology that was traditionally reserved for its own central processing units (CPUs).