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Investing.com-- Intel Corporation (NASDAQ:INTC) CEO Lip-Bu Tan said on Thursday that he recently met with Taiwan Semiconductor Manufacturing Co (TSMC) (TW:2330) (NYSE:TSM) CEO C.C. Wei to discuss potential areas of collaboration between the two semiconductor giants.
The meeting took place during TSMC’s annual technology conference in Silicon Valley, which both executives attended.
Tan said during an earnings call that Intel views TSMC as a valued partner and that the two companies recently met to explore potential areas of collaboration that could benefit both sides.
In recent years, Intel has faced challenges in the semiconductor sector, missing out on the AI-driven chip boom. Recent U.S. tariff announcements have further clouded its outlook.
Intel expects revenue for the second quarter to fall between $11.2 billion and $12.4 billion, a year-over-year decline of up to 12%, as it braces for potential economic fallout from tariffs and inflation.
The company posted $12.7 billion in revenue and non-GAAP earnings of $0.13 per share for the first quarter, outperforming its breakeven forecast.