Intel shares rallied 16.1% on Tuesday following a Wall Street Journal report that each Broadcom and Taiwan Semiconductor Manufacturing are potentially weighing bids that would end in splitting the embattled chipmaker.
The stock closed at $27.39 and notched its best day since March 2020.
The Wall Street Journal reported that Broadcom may consider a play for the corporate’s chip design and marketing segment, citing people accustomed to the matter, while TSMC is thinking about a stake or complete control of Intel’s factories. The businesses haven’t filed bids and talks are largely informal, the Journal reported.
The long-lasting American chipmaker’s stock has continued to sink lower in recent times, shedding billions in market value. Intel fell behind on the synthetic intelligence tailwinds which have swept up the broader semiconductor sector.
