Intel Corporation's shares surged by 10% on Tuesday amid rumors on potential sales of its chip design and factories to Broadcom Inc. and Taiwan Semiconductor Manufacturing Company (TSMC), respectively.
It was previously reported that Broadcom is eyeing Intel's chip design and marketing business, while TSMC may submit a bid for Intel's chip factories. Both deals were said to be in the early stages of consideration.
Intel's shares jumped 10.12% at 11:58 am ET to sell for $25.9800.