Intel's struggles have led to reports and speculation that it might sell off what it calls Intel Foundry, which would include the Ohio fabs. That would be a step beyond existing moves to create space between Foundry and Intel Products, the company's chip-design arm.

Intel Corp. shares gained on a report that the company tentatively agreed to a Taiwan Semiconductor Manufacturing Co. joint venture, a sign the beleaguered US chipmaker is moving ahead with a plan that’s been highly anticipated by investors.

A new report from The Information claims that executives from Intel and Taiwan Semiconductor Manufacturing Co. have entered into a "preliminary agreement" that would form a joint venture between the two chip makers. The new venture would operate Intel's foundries and TSMC would take 20% stake in the new company.