Intel Has Biggest Rally Since 2020 on Breakup Speculation

Intel Corp. soared 16% on speculation that the iconic chipmaker could be broken up in a deal involving Taiwan Semiconductor Manufacturing Co. and Broadcom Inc.

TSMC has discussed the idea of operating Intel’s US factories and owning a controlling stake in the venture, Bloomberg News reported last week. Broadcom, meanwhile, has held informal talks with advisers about making a bid for Intel’s chip-design and marketing business, the Wall Street Journal said.