Intel (INTC, Financial) shares fell around 3% Thursday morning after Taiwan Semiconductor Manufacturing Company (TSM, Financial) 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 (NVDA, Financial) 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 (AMD, Financial) dipped slightly, while Qualcomm (QCOM, Financial) and Broadcom (AVGO, Financial) 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.
