Overview

• The Wall Street Journal reported that Intel approached Apple and TSMC about possible investment or manufacturing cooperation, and Intel and TSMC declined to comment.
• CEO Chen Liwu is pursuing outside capital and customer commitments to back a turnaround of Intel’s loss-making foundry business.
• The outreach began before recent political attention but gained speed after the U.S. government agreed to buy about 9.9% of Intel for roughly $8.9 billion.
• Nvidia announced a $5 billion purchase of roughly 4% of Intel this month, and SoftBank invested $2 billion in August.
• Intel shares rose 8.87% on Thursday on the reports, bucking a broadly weaker market.