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According to Reuters, a partnership between Intel and Taiwan Semiconductor Manufacturing Company (TSMC) is underway in the United States. The two companies have reportedly reached a preliminary agreement to form a joint venture, with TSMC set to acquire 20% of Intel’s shares.

The deal comes after pressure from the White House and the US Department of Commerce to alleviate Intel’s current crisis. Reuters reached out to all parties involved, but Intel and NVIDIA declined to comment, and the US government did not respond.

AMD, NVIDIA, and Broadcom May Be Involved

It is unclear who will retain the remaining 80% of Intel’s shares. Recently, rumors emerged that TSMC had contacted NVIDIA, AMD, and Broadcom to join the joint venture. If true, each company would have a different role and stake in the partnership.

The US government is reportedly leading the effort to protect Intel, one of its most important companies and a leader in the CPU market, in an attempt to restore its relevance in the industry.

Intel’s current crisis began to intensify after problems with its Raptor Lake processors, losing market share to rival AMD, which has been growing in different segments each year. The situation culminated in the departure of former CEO Pat Gelsinger last year.

With a new CEO, Intel is now working towards a restructure, shifting priorities, and taking actions to overcome its current crisis and regain its position in the industry.

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