Intel (NASDAQ:INTC) is reportedly engaged in early discussions with Advanced Micro Devices (NASDAQ:AMD) to add the Lisa Su-led company as a potential customer for its nascent foundry business, according to Semafor.
No details emerged of how much manufacturing Intel might handle if they reach a deal, the report said, citing people familiar with the talks. It’s also uncertain what Intel would build for AMD as its foundry currently lacks the ability to build AMD’s most advanced chips. Taiwan Semiconductor Manufacturing (TSM) produces the bulk of AMD’s chips.
Regardless of what materializes from these discussions, the report is another example of Intel CEO Lip-Bu Tan attempting to make deals with tech titans, banks and government leaders to right the ship at Intel.
Intel shares had climbed 5% by afternoon trading on Wednesday. They have surged nearly 50% over the past month and 77% year to date.
Japan’s SoftBank (OTCPK:SFTBY)(OTCPK:SFTBF) completed a $2B investment earlier this week. Earlier this month, Intel and Nvidia (NVDA) signed a deal that would see the duo co-develop PC and data center chips. Simultaneously, Nvidia said it would take a $5B stake in Intel. In August, the Trump administration took an $11.1B, or 10%, stake in Intel.
Santa Clara, Calif.-based Intel has also spoken to other companies about acquiring stakes in it, including Apple (AAPL).