TSMC pitched Intel venture to Nvidia, AMD and Broadcom, sources say

STORY: Shares of Intel rose as much as 7% on Wednesday following a Reuters report that Taiwanese chipmaking giant TSMC has pitched several U.S. chip designers on taking stakes in a joint venture that would operate struggling Intel factories.

Four sources tell Reuters that Nvidia, Advanced Micro Devices and Broadcom have been approached about the plan which would have TSMC run the operations of Intel’s foundry division, which makes chips adapted for the needs of customers, but it would not own…