Nvidia denies news of 'saving' Intel

Nvidia CEO Jensen Huang confirmed that he has not received an invitation to form a joint venture to control Intel's chip factory.

Nvidia CEO denies being invited to join a joint venture to buy Intel shares. Photo: Seeking Alpha .

According to Reuters , Nvidia CEO Jensen Huang has denied reports that the GPU manufacturing giant was invited to join a joint venture to buy Intel shares.

“Nobody has invited Nvidia into a joint venture. There may be others involved but I don’t know,” Mr. Huang said at a press conference at the annual GTC conference.

Previously, according to Reuters sources, TSMC invited US chip design companies including Nvidia, AMD and Broadcom to form a joint venture to control Intel's chip factory.

In early talks, the Taiwan-based chipmaker proposed running Intel’s foundry business with a stake of no more than 50%. Qualcomm also accepted the offer but withdrew from the talks, another source said.

The talks come after the Trump administration asked TSMC to help revive American technology icon Intel.

TSMC had been soliciting the joint venture before announcing plans to invest $100 billion in the United States on March 3, including building five additional chip manufacturing facilities, sources said.

Under pressure from the market, Intel's board of directors has announced plans to create a separate board for its chip manufacturing division. Analysts say the move could be the first step toward splitting Intel into two separate companies: one focused on chip manufacturing (foundry) and one focused on product development.