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TSMC Pitches Intel Foundry JV to Nvidia, AMD and Broadcom
March 13, 2025
TSMC has approached major US chip designers Nvidia, AMD and Broadcom about investing in a joint venture (JV) to operate Intel’s foundry division. Under this proposal, TSMC would manage the division’s operations but would not own a majority stake. TSMC pitched the JV to potential investors before announcing a $100bn investment on March 3.The investment includes plans to build five additional chip facilities in the coming years, in which TSMC is looking to have more than one chip designer as a partner. One source reports that TSMC wants potential investors in the JV to also be advanced manufacturing customers. However, some sources predict a JV between TSMC and Intel may face challenges due to their differing manufacturing processes, chemicals, and equipment setups. The proposal comes after previous speculation of a potential partnership between Intel and TSMC.
Intel’s dollar bonds were trading positive across the curve, with its 5.2% 2033s up 0.5 points to 98.4, yielding 5.5%.
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