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Intel shares jumped on October 1, following reports that the company is in early talks to manufacture chips for rival AMD through its foundry business, according to CNBC.
Intel stock rose 7% following, and AMD gained over 1% after Semafor reported the discussions. According to analysts, securing AMD would be a major win for Intel Foundry, giving it confidence to invest in manufacturing technology and signaling to the industry that Intel can take on external customers. AMD currently produces chips at Taiwan Semiconductor Manufacturing Co. (TSMC).
Intel has recently added significant investors, with the U.S. government purchasing a 9.9% stake, Nvidia investing $5 billion while agreeing to co-develop chips, and SoftBank buying $2 billion in shares. The collaboration with Nvidia followed Intel’s agreement in August to sell a 10% stake in the company to the U.S. government.
Intel shares are up nearly 77% in 2025; however, Intel declined to comment. An AMD spokesperson told CNBC, “AMD does not comment on rumor or speculation.”
While discussions with AMD are still in the early stages, MarketWatch reported that a deal with AMD could help secure demand for Intel’s advanced 14A node, which the company has warned it may discontinue without external customers. However, Bernstein analyst Stacy Rasgon told MarketWatch, “AMD and Intel appear to be much starker competitors than Nvidia and Intel in their current core markets, and we find it unlikely that either would really want to rely on the other, at least for now.” He also noted that AMD could more easily expand U.S. production through TSMC’s Arizona facilities.
