Street Calls of the Week
Investing.com -- Intel has approached Taiwan Semiconductor Manufacturing Company (TWSE:2330) to discuss potential investments in manufacturing or partnerships, according to a Wall Street Journal report on Thursday.
This move comes after Bloomberg reported on Wednesday that Intel (NASDAQ:INTC) was in discussions with Apple (NASDAQ:AAPL) about securing an investment in the chipmaker.
According to the Wall Street Journal, Intel’s efforts to attract outside investment began before U.S. President Donald Trump expressed interest in the company last month. These efforts have intensified since the U.S. government took a 10% stake in Intel.
Last week, Nvidia (NASDAQ:NVDA) announced plans to invest $5 billion in Intel for approximately 4% ownership in the company. Prior to that, Intel received a $2 billion capital injection from SoftBank Group (TYO:9984) in August.
Intel CEO Lip-Bu Tan has been actively seeking partners as part of his strategy to turn around the struggling chipmaker.
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