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Nvidia CEO denies being approached for stake in Intel Foundry, casting doubt on consortium reports — TSMC board member also denies involvement

Daniel Nenni

Daniel Nenni

Admin
Staff member
Now that this "Exclusive" has been debunked will Reuters be be printing a retraction? Will the SEC be investigating for stock manipulation? Clearly the authors were duped.

Exclusive: TSMC pitched Intel foundry JV to Nvidia, AMD and Broadcom, sources say
By Fanny Potkin, Milana Vinn and Wen-Yee Lee
  • - TSMC would take a stake of no more than 50% in joint venture operating Intel foundries-sources
  • - Talks are at an early stage-sources
  • - Qualcomm has also received TMSC's pitch-sources
SINGAPORE/NEW YORK/TAIPEI, March 12 (Reuters) - TSMC has pitched U.S. chip designers Nvidia, Advanced Micro Devices and Broadcom about taking stakes in a joint venture that would operate Intel's factories, according to four sources familiar with the matter.

Under the proposal, the Taiwanese chipmaking giant would run the operations of Intel's foundry division, which makes chips adapted for the needs of customers, but it would not own more than 50%, the sources said. Qualcomm has also been pitched by TSMC, according to one of the sources and a separate source.

www.linkedin.com

Milana Vinn - Reuters | LinkedIn

New York-based M&A reporter focused on tech, media, and telecom (TMT) deals. Was… · Experience: Reuters · Education: Craig Newmark Graduate School of Journalism at CUNY · Location: Brooklyn · 500+ connections on LinkedIn. View Milana Vinn’s profile on LinkedIn, a professional community of 1...
www.linkedin.com www.linkedin.com
 
Daniel Nenni said:
Now that this "Exclusive" has been debunked will Reuters be be printing a retraction? Will the SEC be investigating for stock manipulation? Clearly the authors were duped.

www.linkedin.com

Milana Vinn - Reuters | LinkedIn

New York-based M&A reporter focused on tech, media, and telecom (TMT) deals. Was… · Experience: Reuters · Education: Craig Newmark Graduate School of Journalism at CUNY · Location: Brooklyn · 500+ connections on LinkedIn. View Milana Vinn’s profile on LinkedIn, a professional community of 1...
www.linkedin.com www.linkedin.com

Exclusive: TSMC pitched Intel foundry JV to Nvidia, AMD and Broadcom, sources say
By Fanny Potkin, Milana Vinn and Wen-Yee Lee
  • - TSMC would take a stake of no more than 50% in joint venture operating Intel foundries-sources
  • - Talks are at an early stage-sources
  • - Qualcomm has also received TMSC's pitch-sources
SINGAPORE/NEW YORK/TAIPEI, March 12 (Reuters) - TSMC has pitched U.S. chip designers Nvidia, Advanced Micro Devices and Broadcom about taking stakes in a joint venture that would operate Intel's factories, according to four sources familiar with the matter.

Under the proposal, the Taiwanese chipmaking giant would run the operations of Intel's foundry division, which makes chips adapted for the needs of customers, but it would not own more than 50%, the sources said. Qualcomm has also been pitched by TSMC, according to one of the sources and a separate source.

Click to expand...

It's hard to tell at this moment, one way or the other. If we examine the statements made by Paul Liu (a member of TSMC's Board of Directors) and Jensen Huang (Nvidia's CEO):

Paul Liu, member of TSMC's Board of Directors:

"The rumored Intel Foundry acquisition proposal was never discussed in the board meeting."

Source: https://www.digitimes.com/news/a20250319PD234/tsmc-intel-taiwan-investment.html

Jensen Huang, Nvidia CEO:

"Nobody's invited us to a consortium," Huang said, according to Reuters.

"Nobody invited me. Maybe other people are involved, but I don't know. There might be a party. I wasn't invited, he added."

Source: https://stocktwits.com/news-article...-being-invited-to-pick-up-a-stake/ch7NBMiRb2o

For such a sensitive acquisition involving substantial money, business, and political stakes, there is a possibility that trusted investment bankers could initiate exploratory discussions without the direct involvement of each company's leadership team or board.

Investment bankers, like Goldman Sachs, Morgan Stanley, Deutsche Bank, Citi, and JPMorgan, have long-standing and trusted relationships with companies such as TSMC, Intel, Nvidia, AMD, Qualcomm, and Broadcom. Using these bankers can provide both deniability and flexibility in such complicated cases.
 
Last edited:
hist78 said:
It's hard to tell at this moment, one way or the other. If we examine the statements made by Paul Liu (a member of TSMC's Board of Directors) and Jensen Huang (Nvidia's CEO):

Paul Liu, member of TSMC's Board of Directors:

"The rumored Intel Foundry acquisition proposal was never discussed in the board meeting."

Source: https://www.digitimes.com/news/a20250319PD234/tsmc-intel-taiwan-investment.html

Jensen Huang, Nvidia CEO:

"Nobody's invited us to a consortium," Huang said, according to Reuters.

"Nobody invited me. Maybe other people are involved, but I don't know. There might be a party. I wasn't invited, he added."

Source: https://stocktwits.com/news-article...-being-invited-to-pick-up-a-stake/ch7NBMiRb2o

For such a sensitive acquisition involving substantial money, business, and political stakes, there is a possibility that trusted investment bankers could initiate exploratory discussions without the direct involvement of each company's leadership team or board.

Investment bankers, like Goldman Sachs, Morgan Stanley, Deutsche Bank, Citi, and JPMorgan, have long-standing and trusted relationships with companies such as TSMC, Intel, Nvidia, AMD, Qualcomm, and Broadcom. Using these bankers can provide both deniability and flexibility in such complicated cases.
Click to expand...

According to my four sources it did not happen. There was no party at all. But let’s just pretend I am right. Does Reuters owe someone anappology?
 
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