The American chipmaker missed out on the generative AI boom and is now in talks with rivals to which it lost market share, according to a report from the ‘Wall Street Journal.’ Shares of Intel Corporation (NASDAQ:INTC) surged over 10% on Tuesday on the news that rivals Broadcom and Taiwan Semiconductor Manufacturing Co.

Intel shares jumped 9% in early trading after The Wall Street Journal reported that Broadcom and TSMC were eyeing separate deals that would break the U.S. chip maker in two. Read more:

One solution being discussed is for Broadcom and TSMC to split Intel, with one part of the company focusing on design and another on production. Intel’s manufacturing division already has a degree of autonomy and reports its finances separately.