Taiwan Semiconductor Manufacturing Company and Intel are reportedly forming a joint venture. American media reports that both parties have reached a preliminary consensus.
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According to a report from the U.S. tech news site The Information, TSMC and Intel have reached a preliminary agreement under pressure from the White House and the Department of Commerce to establish a joint venture to operate a portion of Intel's semiconductor fabs, acquiring a 20% stake in the new company. This move is expected to enhance Intel's competitiveness in advanced processes and strengthen the Taiwanese government's bargaining position. The report notes that TSMC may share some chip manufacturing technologies and train Intel personnel. The funding for the new company and other equity holders have not yet been determined, and the final agreement is still under discussion. This issue has sparked heated discussions in the semiconductor industry, and TSMC has also adjusted its investment plans in the U.S. in response to geopolitical pressures.
A US technology news website reported that under pressure from the White House and the Department of Commerce, TSMC has reached a preliminary agreement with Intel to establish a joint venture to operate certain wafer fabs owned by Intel in the United States, acquiring a 20% stake in the new company. This move not only helps Intel solidify its foothold in advanced processes but also provides the Taiwanese government with more negotiation leverage. Recently, TSMC's ADRs in the US stock market have seen a significant drop due to tariffs and market news.
The report mentioned that, according to the agreement, TSMC may share some chip manufacturing technologies with Intel and conduct training for Intel employees in order to obtain the 20% stake in the new company, rather than making a monetary investment. It is still unclear who will own the remaining 80% stake and the source of the new company’s funding; discussions are ongoing, and the final agreement has yet to be finalized.
This topic has sparked discussions in the semiconductor industry recently, with informed sources indicating that the negotiations aim to revitalize Intel's market position. TSMC is also facing investigations from other entities, including the Department of Commerce regarding its potential production of advanced chips for Huawei. The White House and the Department of Commerce are promoting collaboration between TSMC and Intel to address Intel's long-term crisis, and Department of Commerce officials also support this preliminary agreement.
Reports indicate that this joint venture proposal could not only weaken competitors but also enable the Taiwanese government to gain more leverage in tariff negotiations, facilitating Intel's development in advanced processes. However, this discussion has stalled for several months, and with the resignation of Intel's former CEO, the new CEO's appointment has affected the original plans. Some senior Intel executives have reservations about this collaboration, fearing it may adversely impact the company’s proprietary technology and could even lead to widespread layoffs.
The most pressing issue currently is how both parties will collaborate, as they use different production equipment and materials. If TSMC's processes are adopted, it may compel Intel to remove most of its existing equipment, meaning Intel would need to consider significant adjustments to its semiconductor engineering department and equipment procurement strategies, possibly even selling some expensive machines. Neither Intel nor TSMC has commented on the matter, and the White House and Department of Commerce have also not responded to media inquiries.
The US has shown heightened concern regarding TSMC's movements; however, TSMC's chairman recently traveled to Japan to reportedly discuss its investment plans in the country with local officials, stating that it will focus on the two major investment projects already announced. Industry insiders report that as client demand driven by geopolitical factors increases, TSMC's willingness to invest in the US is also rising. Additionally, with changes in the automotive semiconductor market, TSMC will flexibly adjust its overseas development strategy to concentrate resources on advancing investments in new US facilities.