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Shares of Advanced Micro Devices Inc. fell 2.9% on Friday and Intel Corp. slipped 1.1% late Friday, paring some midweek gains fueled by reports of a potential manufacturing deal between the two rivals. The pullback came as SemiAccurate published a blunt rebuttal of the rumors, stating there is no agreement and dismissing the speculation as baseless.
SemiAccurate, a publication with a long track record of scrutinizing chip industry developments, dismissed the speculation outright. “TLDR is no,” the publication said in response to whether AMD would fab its chips at Intel.
The rumor gained traction earlier in the week after Semafor reported that Intel and AMD were in early-stage discussions about a partnership. That report sent Intel shares up nearly 6% and AMD up more than 1% midday Wednesday, as investors cheered the possibility of cooperation between the traditional rivals.
Despite the market reaction, SemiAccurate claims to have spoken with individuals on both sides who flatly denied any such arrangement. “I asked multiple people on both sides who know and everyone said it is BS. None even hinted that there is something in the works, all said the same hard no,” the site noted.
Adding another layer of intrigue, SemiAccurate suggested financial motives may have been behind the leak. “The best answer SemiAccurate has heard from multiple sources is that it appears that someone was trying to cover a short,” the site explained.
Intel has recently scored support from major players including the White House, Nvidia, and SoftBank, and is reportedly in talks with companies like Apple. Analysts such as Trip Chowdhry from Global Equities Research maintain that Intel’s 18A fabrication process could present a compelling case for prospective clients, including AMD.
Still, technical limitations remain a sticking point. AMD’s current chips are largely manufactured by Taiwan’s TSMC, and Intel’s process technology, according to Semafor, may not yet be suitable for AMD’s leading-edge designs.
As speculation continues to swirl, SemiAccurate urges caution and due diligence. “SemiAccurate is saddened by the idiocy of the net, several of our peers, and the echo chamber who puked this BS back as fact without doing the merest shred of research,” the report adds.