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Intel stock climbs following report that TSMC has pitched Nvidia, AMD on venture to run Intel's foundry business

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Shares of Intel rose on Wednesday following a Reuters report that TSMC has pitched Nvidia, AMD, and Broadcom on a plan to run Intel's chip manufacturing business.
Intel's stock experienced a significant rise after a report from The Wall Street Journal indicated that the company is in advanced talks to secure over $10 billion in funding from the U.S. government. This funding is part of the CHIPS and Science Act, aimed at boosting domestic semiconductor production. The potential investment would help Intel expand its manufacturing capabilities in the U.S., reducing reliance on overseas production and enhancing national security by ensuring a stable supply of semiconductors. The news comes at a time when Intel has been facing challenges, including delays in its manufacturing processes and competition from rivals like AMD and TSMC. The stock surge reflects investor optimism about Intel's future growth and the strategic importance of domestic chip manufacturing.

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