Intel (NASDAQ:INTC) shares were up 5.82% at $25.11, gaining $1.38 in premarket trading as of 9:20:09 AM ET on Monday, following a report that Nvidia (NASDAQ:NVDA) and Broadcom (NASDAQ:AVGO) are testing their chips using Intel's 18A manufacturing process, according to Reuters. Broadcom's stock gained 2%, while Nvidia's remained flat.
The tests suggest both companies are considering whether to commit hundreds of millions of dollars in manufacturing contracts to Intel. A deal would provide a much-needed revenue boost to Intel's contract manufacturing business, which has faced delays and has yet to land a major chip designer as a customer.
Advanced Micro Devices (NASDAQ:AMD) is also evaluating Intel's 18A process, though it's unclear whether AMD has sent test chips for production, the report said.
An Intel spokesperson confirmed strong interest in its 18A technology, but declined to comment on specific customers. The 18A process competes with Taiwan Semiconductor Manufacturing (NYSE:TSM) in producing advanced AI and high-performance chips.
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