10 Firms Kick Off Shortened Trading Week With Impressive Gains

4. Intel Corporation (NASDAQ:INTC)

Intel Corporation (NASDAQ:INTC) surged by 16.06 percent on Tuesday to end at $27.39 apiece as investors bought up on news that it was being targeted for acquisition by two of the world’s largest semiconductor manufacturers—Taiwan Semiconductor and Broadcom.

According to a report by Wall Street Journal, the two companies are weighing bids that could result in splitting the embattled chipmaker.

Citing people privy to the matter, Broadcom was said to be considering a play for the company’s chip design and marketing segment while TSMC was interested in a stake or full ownership of INTC’s factories. Talks, however, have yet to be formalized.

INTC has long been ailing in recent years, shedding billions in market value, as it fell behind the booming Artificial Intelligence industry that has swept up the broader semiconductor sector.