Overview

• Semafor reported that AMD is in exploratory discussions to have Intel manufacture some chips, with no agreement signed and a timeline that could stretch months.
• Analysts say Intel’s current nodes trail TSMC’s most advanced processes, making supporting dies a more plausible near-term target than leading-edge CPUs or GPUs.
• Intel is seeking marquee external customers to validate its 18A/14A roadmap and strengthen the case for continued investment in its foundry business.
• AMD is weighing U.S.-based production to diversify beyond TSMC due to capacity constraints and geopolitical risk, leveraging its chiplet strategy for flexibility.
• Intel shares rose roughly 3.5% after the reports, as investors weighed the talks alongside recent backing from Nvidia, SoftBank, and U.S. government support.