Intel Stock Sinks As Nvidia CEO Shoots Down Stake Rumors, TSMC Exec Dismisses Buyout Talk: Retail Still Finds Optimism

Shares of Intel Corp. (INTC) declined nearly 7% in Wednesday’s regular trading session after Nvidia Corp. (NVDA) CEO Jensen Huang denied reports that the company was approached to pick up a stake in the beleaguered chipmaker.

A media report earlier this month stated that Intel’s foundry business could be taken over by Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC) in a joint venture with other industry players like Nvidia, Broadcom Inc. (AVGO), and Advanced Micro Devices Inc. (AMD).

However, Huang shot down these rumors during a press conference at the ongoing GTC 2025 event, saying that he had not been “invited” to the party.

“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.

Further, TSMC board member Paul Liu also denied rumors that the company is looking to take over Intel’s foundry business, according to a report by DigiTimes.

Liu said this was not discussed at the board level.

This comes at a time when Intel has appointed a new CEO, Lip-Bu Tan, to succeed industry veteran Pat Gelsinger.

Tan is reportedly considering a shakeup of Intel, which he thinks has become a slow-moving company due to a bloated middle-management. He is also considering a major revamp to Intel’s manufacturing operations.

Despite clarifications from Huang and TSMC, retail sentiment on Stocktwits around the Intel stock turned more optimistic, entering the ‘bullish’ (56/100) territory from ‘neutral’ a day ago.

Message volume remained at ‘high’ levels.

One user thinks Intel will eventually come out on top.

Another thinks that the stock’s decline is what “money managers” want “for now.”

Intel’s stock has gained over 20% year-to-date but has lost nearly 43% of its value over the past year.

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