COLUMBUS, Ohio (WCMH) -- Intel's renowned stock increase has ended after Wall Street analysts voiced concerns over the rumored sales that drove the five-day success.
Rumors of Taiwanese semiconductor manufacturing giant TSMC acquiring at least 20% of Intel's foundry division and a Broadcom play for Intel's product division drove a 38.5% increase over five days. Intel Foundry manages the company's semiconductor manufacturing plants, and the product division is in charge of developing technology to sell. Tuesday marked Intel's best day since March 2020, hitting 16.1% gains.
If Intel was sold, Ohio's plant under construction in New Albany could see complications, but the multibillion-dollar project -- the most expensive in the state's history -- is promised significant federal and state funding. The CHIPS Act funding the project received has already begun coming in, and while a joint sale to TSMC could complicate the funding, it is unlikely to shake it entirely. TSMC Arizona, a subsidiary of TSMC, was awarded up to $6.6 billion through the CHIPS Act. See previous coverage of the CHIPS Act in the video player above.
40 goats killed in Licking County barn fire“Entering this phase of the U.S. CHIPS and Science Act marks a pivotal step in strengthening the semiconductor ecosystem in the United States,” TSMC Chairman and CEO C.C. Wei said of the collaboration.
Bloomberg, the Wall Street Journal and the New York Times reported that sources familiar with the matter said President Donald Trump encouraged TSMC to move on Intel Foundry. However, a White House official told Reuters that Trump was unlikely to support a foreign firm taking over Intel's factories.
Whether Trump would support the move is not his only influence in Intel's development. American policies favor U.S.-based businesses, especially in the semiconductor industry, which would not be guaranteed under foreign ownership. Trump also said Tuesday he might increase tariffs on automobiles, pharmaceuticals ad semiconductors to around 25% in early April. He also said they will get "substantially higher" over the course of a year.
How lawmakers want to change Ohio's cannabis rulesTrump's 25% tariff on imported steel and aluminum could also drive up costs for Intel and other manufacturing plants in Ohio. According to Samsung, semiconductor manufacturing uses both steel and aluminum. The American Iron and Steel Institute said the U.S. imported 28.86 million tons of steel in 2024, roughly a quarter of all steel used in the U.S.
“When they come back into the United States and they have their plant or factory here, there is no tariff,” Trump said. “So we want to give them a little bit of a chance.”
As rumors persist, the Ohio One plant continues building. Intel recently told NBC4 it does not have any updates to the plant at this time, indicating no additional changes to construction.
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