TSMC Steps Up To Take 20% Stake In Joint Venture With Intel As Struggling Chipmaker Grapples With Nearly $19 Billion Losses In 2024: Report

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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

Quick Summary:

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.

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.