💨 Abstract

Intel and TSMC, major semiconductor companies, are reportedly forming a joint venture. Under the tentative agreement, TSMC will manage Intel's chipmaking facilities with a 20% stake. Instead of capital investment, TSMC will share chipmaking practices with Intel employees and provide training. The move is aimed at boosting Intel's turnaround efforts, initiated under the new CEO, Lip-Bu Tan, and may potentially involve mass layoffs.

Courtesy: techcrunch.com

Summarized by Einstein Beta 🤖