TSMC CEO S.S. Wei said during the first quarter of 2025 report that the company is not in any talks with Intel about creating a joint business or transferring technology, CNBC reports.
This denial was in response to a report by The Information that Intel and TSMC had allegedly discussed a preliminary agreement to jointly manage Intel's factories, in which TSMC would have a 20% stake. Intel declined to comment, saying the company does not comment on rumors.
Intel, once the leading chipmaker in the United States, has lost ground in recent years to rivals like NVIDIA, AMD, Qualcomm, and Apple. In 2024, the company had its worst year ever, with its stock falling 61%.
As for TSMC, it continues to grow thanks to strong demand for AI chips, which helped it beat financial forecasts in the first quarter. However, the company is facing challenges due to new tariffs on semiconductor imports from Taiwan, promoted by the Donald Trump administration, and export restrictions for its customers such as NVIDIA and AMD.
The situation surrounding the possible partnership with Intel arose amid global efforts to strengthen the US semiconductor industry.