Intel and TSMC reach preliminary agreement on US chip manufacturing joint venture

In brief: It appears the previous reports that TSMC and Intel are set to form a joint venture to operate Team Blue's US fabs were accurate. The tech giants are said to have reached a preliminary agreement on the plan, which has been pushed by the White House and Department of Commerce in the hope of helping Intel address its current manufacturing crisis. The deal will see TSMC, the world's largest contract chipmaker, take a 20% stake in the new company. The report comes from The Information, citing two people familiar with the matter. It was reported in March that TSMC had proposed a joint venture that would see it take a stake in Intel's foundry business alongside Nvidia, AMD, Broadcom, and Qualcomm. It's possible that one or more of those companies could own some of the remaining 80% of the venture. Nvidia CEO Jensen Huang said two weeks ago that he was never approached by a consortium about investing in the joint venture. "Nobody invited me. Maybe other people are involved, but I ... Read full article.