The talks come after the Trump administration requested TSMC to assist in turning around the troubled technology company.

Intel (INTC) stock climbed higher Wednesday on a report that rival Taiwan Semiconductor (TSM) is in talks with a group of chipmakers, including Nvidia (NVDA) and AMD (AMD), that would run Intel’s chip manufacturing business.

Intel (INTC) just got a boost. Its stock is up over 7% in premarket trading, all thanks to a big move by TSM (TSMC). The Taiwan-based chip

TSMC has reportedly proposed a joint venture between itself, Nvidia, Advanced Micro Devices (AMD) and Broadcom that will involve them owning stakes and

Stocks fell premarket as President Donald Trump escalated the trade war by vowing to impose 200% tariffs on wine and other alcohol from the European Union. LVMH, Remy Cointreau and Pernod Ricard fell in European trading on the news.

STORY: Shares of Intel rose as much as 7% on Wednesday following a Reuters report that Taiwanese chipmaking giant TSMC has pitched several U.S. chip designers on taking stakes in a joint venture that would operate struggling Intel factories.

The Taiwanese chipmaker intends to run operations of Intel’s fab division but does not want to own more than 50% of it and is looking for more than one partner.

Taiwan Semiconductor Manufacturing has pitched Nvidia and rival chip designers Advanced Micro Devices and Broadcom the idea of taking stakes in a joint venture to operate Intel’s chip-fabrication operations,