Intel and Taiwan Semiconductor Manufacturing Co have reached a preliminary agreement to form a joint venture to operate the U.S. chipmaker's factories, the Information reported on Thursday, citing two people involved in the discussions.

Intel and TSMC are said to have reached a tentative agreement to create a joint venture that will operate Intel's chipmaking facilities.

Apple supplier TSMC has reached a preliminary agreement with Intel that will see TSMC operating Intel’s chipmaking facilities, reports