Reported 3 days ago
Intel Corp. surged 16% on speculation of a potential breakup involving Taiwan Semiconductor Manufacturing Co. (TSMC) and Broadcom, as discussions over operating Intel’s U.S. factories and acquiring its chip-design unit gain traction. This rally, marking the largest single-day increase since March 2020, comes amidst Intel’s struggles to regain its position in the chip industry and seeks new leadership after the exit of CEO Pat Gelsinger. While talks are ongoing, a foreign entity operating Intel's factories has faced skepticism from U.S. officials.
Source: YAHOO