Intel Corp (NASDAQ:INTC, ETR:INL) shares continued to move higher during Thursday’s trading session following an analyst report that discussed a potential factory partnership between the company and chipmaker Taiwan Semiconductor Manufacturing Co (ADR) (NYSE:TSM) (TSMC).
Shares of Intel added 8.5% at about $24, having gained more than 25% in the last five days.
According to a Baird analyst note, discussions in the Asian supply chain suggest TSMC may send engineers to an Intel chip facility to ensure its viability, with the possibility of the factory being spun off into a joint venture co-owned and operated by both companies.
US government funding could support the project, though no formal agreement has been reached.
Reports also indicate US officials are encouraging Intel and TSMC to jointly develop multiple chip foundries. Both companies have declined to comment.
Also boosting the stock was a keynote speech from Vice President JD Vance in Paris earlier this week which reaffirmed the Trump administration’s commitment to domestic semiconductor manufacturing.
"The Trump administration will ensure that the most powerful AI systems are built in the US with American-designed and manufactured chips,” Vance said.