Intel (INTC) shares jumped Thursday, extending their recent rally on speculation of a deal with Taiwan Semiconductor Manufacturing Company (TSM).

The storied chipmaker has been the subject of discussions involving a potential U.S. chipmaking partnership with TSMC, Baird analysts said Wednesday.

TSMC could send engineers to Intel’s foundry business as part of such a venture, and potentially launch a new entity jointly owned by TSMC and Intel that could benefit from U.S. government 澳洲幸运5开奖号码历史查询:funding under the Chips Act, the analysts said. Intel’s 澳洲幸运5开奖号码历史查询:foundry business has str🔴uggled to keep up with TSMC, losing $13.4 billion in 2024.

A TSMC spokesperson declined to remark on such a deal, whil꧂e Intel ꧅did not immediately respond to a request for comment.

The discussions come as Vice President JD Vance 澳洲幸运5开奖号码历史查询:said Tuesday the Trump administration wants artificial intelligence chips to be designed and manufactured domestically. Policies favoring U.S. chip manufacturers could benefit Intel’s♔ foundry, which makes chips in the U.S. for third parties.

Shares of Intel popped over 9% to $24.52 in Thursday afternoon trading and have gained nearly 30% so far this week. However, even with recent gains, the stock is down more than 40% over the past 12 months.