Dado Ruvic | Reuters
Intel share outs rallied 16.1% on Tuesday following a Wall Street Journal report that both Broadcom and Taiwan Semiconductor Contriving are potentially weighing bids that could result in splitting the embattled chipmaker.
The stock closed at $27.39 and sawtoothed its best day since March 2020.
The Wall Street Journal reported that Broadcom may consider a play for the company’s scrap design and marketing segment, citing people familiar with the matter, while TSMC is interested in a stake or crown control of Intel’s factories. The companies have not filed bids and talks are largely informal, the Journal reported.
The iconic American chipmaker’s dynasty has continued to sink lower in recent years, shedding billions in market value. Intel fell behind on the man-made intelligence tailwinds that have swept up the broader semiconductor sector.