05:31 AM EDT, 04/04/2025 (MT Newswires) -- (Updates with latest Intel ( INTC ) stock moves in the seventh paragraph.)

Intel ( INTC ) and Taiwan Semiconductor Manufacturing (TSM) have a preliminary agreement to form a joint venture to run the US company's chipmaking facilities, The Information reported Thursday, citing two people with knowledge of the matter.

TSMC will share some chipmaking techniques with Intel ( INTC ) and train personnel in exchange for a 20% stake in the proposed venture, the report said.

Intel ( INTC ) and some US semiconductor firms will be majority shareholders in the new venture, which would include several Intel ( INTC ) chip foundries, the report said.

No final decision has been made, and two Intel ( INTC ) employees cited resistance within the company, partly amid concerns of potential layoffs, the report said.

The Trump administration initiated the negotiations to bolster Intel ( INTC ), and Commerce Department officials support the tentative deal, the report said.

Intel ( INTC ) and the Commerce Department didn't immediately respond to requests for comment from MT Newswires, and TSMC declined to comment.

Intel ( INTC ) shares were up more than 0.5% in recent premarket activity Friday after closing up around 2% Thursday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)