Intel Shares Are Trading Higher Wednesday: What's Going On?

Intel Corporation (NASDAQ:INTC) shares are trading higher on Wednesday after Semafor reported the company is in early talks to add Advanced Micro Devices, Inc. (NASDAQ:AMD) as a foundry customer.

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What To Know: The discussions are in early stages and it remains unclear how much of AMD’s manufacturing would shift to Intel if an agreement is reached, or whether a potential deal would involve a direct investment by AMD. People familiar with the matter noted that no agreement is guaranteed.

Intel has recently secured investment dollars and public backing from the White House, Nvidia and SoftBank, and is also in talks for support from Apple. Adding AMD as a customer would mark another boost for the chipmaker, which has struggled to keep pace with Taiwan’s TSMC in advanced chipmaking technology.

AMD currently produces most of its chips through TSMC. Intel, meanwhile, has been courting customers and investors for similar foundry deals in recent months.

INTC Price Action: Intel shares are up 6.41% at $35.71, according to data from Benzinga Pro.

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