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Investing.com -- Taiwan Semiconductor Co Ltd (TWO:5425) (NYSE:TSM) (TSMC) CEO has denied any involvement in joint venture talks or technology-sharing arrangements with other companies, pushing back on speculation about a potential deal with Intel (NASDAQ:INTC).
“TSMC is not engaged in any discussion with other companies regarding any joint venture, technology licensing or technology transfer and sharing,” Chief Executive Officer C.C. Wei said during a conference call with analysts.
Wei was responding to reports suggesting the company was in talks to collaborate with Intel, which has been struggling with job cuts and scaled-back expansion plans.
The comments come after The Information reported in April that TSMC and Intel had reached a preliminary agreement to jointly operate Intel’s chip facilities. Bloomberg previously reported that the U.S. administration under President Donald Trump had encouraged a potential partnership as part of broader efforts to support domestic chip production.
Wei did not address the media reports directly but reaffirmed that TSMC remains focused on its core business.
The company reiterated its 2025 outlook, expecting AI-related revenue to double, which it said would help counterbalance geopolitical and market risks, including the ongoing U.S.-China trade tensions.
The contract manufacturer also maintained its capital expenditure forecast of $38 billion to $42 billion for the year.
The company’s U.S.-listed shares jumped more than 3% in premarket trading Thursday.
TSMC reported a 60% year-on-year surge in net profit for the first quarter, reaching T$361.6 billion ($11.1 billion), marking its fourth consecutive quarter of double-digit growth. The result topped expectations, beating the T$354.6 billion LSEG SmartEstimate.
Revenue from China fell to 7% of total sales, down from 9% a year earlier, as U.S. export restrictions on advanced chips appear to be taking effect. Meanwhile, North America accounted for 77% of sales, up from 69% last year.