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Trump’s Approval of AI Chip Sales to China Triggers Bipartisan National Security Concerns 
The Trump administration may oppose Taiwan's TSMC controlling Intel’s (NASDAQ:INTC) U.S. chip factories, a White House official told Reuters. The comment followed a Bloomberg report that TSMC was considering a controlling stake in Intel's fabs at Trump's suggestion. While the administration supports foreign investment, it is unlikely to back a foreign firm running Intel’s operations.
According to Bloomberg, Trump’s team discussed a potential deal with TSMC, which appeared receptive. However, the White House declined to confirm the meeting. Analysts suggest a joint venture headquartered in the U.S. could be a possible compromise.
The proposed deal could aid Intel, which has struggled to regain its chipmaking dominance amid the AI boom. Despite investing billions to pivot to contract manufacturing, Intel’s transformation has yet to succeed. Intel shares fell 2.2%, while TSMC’s U.S.-listed shares rose 1% on Friday.
Research firm Baird suggested spinning off Intel’s fabs into a joint entity with TSMC, which could boost Intel’s cash flow and allow it to focus on design. TSMC engineers could help optimize the fabs, but significant operational adjustments and proprietary disclosures would be necessary.
Intel faces pressure as its manufacturing ambitions have strained finances, with shares losing 60% last year. The U.S. government, supporting domestic chip production, awarded Intel a $7.86 billion subsidy in November. Former Intel CEO Pat Gelsinger’s manufacturing push failed, leading to major losses and layoffs.
TSMC may seek tariff exemptions to facilitate the deal amid rising trade tensions, as Trump pushes for reciprocal tariffs. The success of Intel’s upcoming 18A chip technology, pivotal to its recovery, remains critical.
