Intel (NASDAQ:INTC) shares fell around 3% Thursday morning after Taiwan Semiconductor Manufacturing Company (NYSE:TSM) denied it is in discussions with any company for joint ventures, pushing back against media speculation linking it to a potential stake in a venture with the U.S. chipmaker, according to a Financial Times report.
The Financial Times also reported Intel may require licenses to sell certain high-performance AI chips to clients in China, adding to concerns about regulatory hurdles and export restrictions.
Shares of Intel were recently trading at $18.76, down about 3%, after closing more than 3% lower the previous day. The stock is down around 4% so far this year.
Broader chip stocks were mixed. Nvidia (NASDAQ:NVDA) slipped 1%, extending Wednesday's nearly 7% drop. The company on Tuesday disclosed it expects to take a $5.5 billion hit due to U.S. export limits. AMD (NASDAQ:AMD) dipped slightly, while Qualcomm (NASDAQ:QCOM) and Broadcom (NASDAQ:AVGO) each edged higher.
Meanwhile, TSMC posted upbeat quarterly results, offering some relief to the chip sector. U.S.-listed shares of the company rose about 2% in Thursday trading.
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