Shares of the American company Intel rose by 16% after Bloomberg reported that a deal involving Taiwan Semiconductor Manufacturing Company (TSMC) and Broadcom had led to a possible split.
Intel shares rose to $27.39 in New York on Tuesday, the most significant one-day rise since March 2020. This year, Intel shares have already risen 18% amid news of a possible deal.
Intel, which once dominated the chip industry, has recently lost market share to rivals. It missed the transition to artificial intelligence accelerators, which allowed Nvidia to take the lead in this area.
Last year, Intel’s board of directors fired CEO Pat Gelsinger because his recovery plan was moving too slowly, and the company is still looking for a new leader.