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Intel Stock Jumps Following Fresh Reports of Possible Broadcom, TSMC Deals

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Key Takeaways

  • Intel shares rose Tuesday morning following reports over the weekend that competitors Broadcom and TSMC are considering bids for the chipmaker.
  • Broadcom's bid would focus on Intel's chip design services, while TSMC is considering a deal for its factories.
  • The reports follow months of similar speculation as Intel shares slumped in 2024 amid a troubled turnaround plan.

Shares of Intel (INTC) jumped on Tuesday morning, the first day of trading since 澳洲幸运5官方开奖结果体彩网:new reports emerged over the weekend that the chipmaker is the center of 🐷acqu𒅌isition talks once again.

Chip designer Broadcom (AVGO) and Taiwan Semiconductor Manufacturing Company (TSM), the biggest chipmaker in the world, are each in the early stages of considering bids that could see the American chipmaker be broken up, the Wall Street Journal reported over the weekend citing people familiar with the matter.

Broadcom is considering a bid for Intel's chip design business, while TSMC is focused on a deal for the manufacturing side, though it would be complex and expensive to refit Intel's factories to make chips the way TSMC usually does, the unnamed sources told the Journal.

Investopedia has not confirmed the report. Intel, Broadcom, and TSMC did not immediately respond to requests for comment.

Reports of possible deals with competitors were one of the few things that lifted Intel stock amid a 澳洲幸运5官方开奖结果体彩网:difficult 2024 that saw shares decline some 60%. The year ended with 澳洲幸运5官方开奖结果体彩网:CEO Pat Gelsinger's departure following a lackluster turnaround effort and reports of 澳洲幸运5官方开奖结果体彩网:possible acquisition bids by 澳洲幸运5官方开奖结果体彩网:competitors.

Intel shares surged last week before 澳洲幸运5官方开奖结果体彩网:declining on Friday, and appear set to start this shortened trading week on a high note after markets were 澳洲幸运5官方开奖结果体彩网:closed Monday in tꦓhe United States for the President's Day holiday.

Shares of the chipmaker were up more than 5% in premarket trading Tuesday after entering the day down roughly 46% over the last 12 months. Broadcom shares were little changed, while TSMC's U.S.-listed shares rose less than 1% Tuesday.

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