TSMC Steps Up To Take 20% Stake In Joint Venture With Intel As Struggling Chipmaker Grapples With Nearly $19 Billion Losses In 2024: Report
Benzinga (Thu, 03-Apr 10:35 PM)
Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) is reportedly set to acquire a 20% stake in a new joint venture with Intel Corp (NASDAQ:INTC), aimed at addressing the U.S. chipmaker's ongoing struggles, including its $18.8 billion net loss in 2024.
What Happened: Intel and TSMC have reached a preliminary agreement to form a joint venture that will take over the operations of Intel's manufacturing facilities, reported Reuters via The Information.
TSMC, the world's largest contract chipmaker, will hold a 20% stake in the new venture, the report noted.
Why It Matters: The deal comes amid pressure from U.S. government officials, including the White House and the Commerce Department, who ...
