• Broadcom and Taiwan Semiconductor Manufacturing Co. are separately exploring potential deals to split Intel into two entities, according to the Wall Street Journal. Broadcom is evaluating Intel’s chip design and marketing division, while TSMC is considering acquiring some or all of Intel’s manufacturing operations, possibly through an investor consortium. Discussions remain preliminary and informal, with Intel’s interim executive chairman, Frank Yeary, leading negotiations. The Trump administration is closely monitoring the situation due to Intel’s national security significance, with officials reportedly hesitant to allow a foreign entity to control U.S. chip factories.

• Intel, which has benefited from U.S. efforts to onshore chip manufacturing, recently secured a $7.86 billion subsidy from the Commerce Department. Despite its legacy, the company has struggled in recent years, losing 60% of its stock value in 2023 amid rising costs and missed expectations under former CEO Pat Gelsinger. TSMC, with a market valuation eight times Intel’s, manufactures chips for Nvidia and AMD, Intel’s key competitors. While the White House supports foreign investment in U.S. chip production, it is unlikely to approve a deal giving TSMC operational control over Intel’s factories, according to officials.