The American chipmaker missed out on the generative AI boom and is now in talks with rivals to which it lost market share, according to a report from the ‘Wall Street Journal.’ Shares of Intel Corporation (NASDAQ:INTC) surged over 10% on Tuesday on the news that rivals Broadcom and Taiwan Semiconductor Manufacturing Co.

Broadcom and Taiwan Semiconductor Manufacturing Company (TSMC) are separately exploring deals to take over parts of Intel, according to a report in The

Broadcom has interest in Intel’s chip-design business, while TSMC is looking at the company’s factories.