Intel Corp (NASDAQ:INTC, XETRA:INL) shares moved higher on Friday, adding more than 7% on optimism about demand for AI-powered personal computers.
Investors remain bullish on Intel amid escalating trade-secret litigation with Taiwan Semiconductor Manufacturing Co (ADR) (NYSE:TSM). TSMC filed a lawsuit on November 25 against its former senior vice president, Wei-Jen Lo, alleging a high likelihood that he disclosed trade secrets after joining Intel as an executive vice president.
Lo had spent 21 years at TSMC overseeing corporate strategy and research and development before retiring in July 2025.
TSMC said he allegedly misrepresented his post-retirement plans, claiming he would join an academic institution, while instead taking a senior role at Intel.
The chipmaker cited Lo’s access to sensitive technical data, ongoing contacts with R&D staff, and rapid transition to a competitor as reasons for concern, invoking Taiwan’s Trade Secrets Act and the non-disclosure and non-compete agreements Lo had signed.
“There is a high probability that Lo uses, leaks, discloses, delivers, or transfers TSMC’s trade secrets and confidential information to Intel, thus making legal actions (including claiming damages for breach of contract) necessary,” TSMC said in a statement.
Intel has denied the allegations, stating there is no basis for the claims and emphasizing the company’s strict policies against using third-party confidential information.
“Based on everything we know, we have no reason to believe there is any merit to the allegations involving Mr Lo,” an Intel spokesperson said.
The case is now proceeding at Taiwan’s Intellectual Property and Commercial Court.