Shares of Intel (INTC) surged on Tuesday morning, marking the first trading day following recent reports suggesting renewed acquisition discussions surrounding the company.

Major players Broadcom (AVGO) and Taiwan Semiconductor Manufacturing Company (TSM), recognized as the leading chip manufacturer globally, are reportedly contemplating offers that may lead to restructuring Intel, according to sources cited by the Wall Street Journal.

Broadcom aims to pursue Intel’s chip design division, whereas TSMC is interested in a deal focused on Intel’s production facilities. However, transforming Intel’s factories to align with TSMC’s chip manufacturing approach could pose significant challenges, as highlighted by the anonymous tips shared with the Journal.

Investopedia has yet to verify these latest reports. Responses from Intel, Broadcom, and TSMC have not been received as of now.

Speculation regarding possible deals with rival firms has provided one of the few boosts to Intel’s stock during a challenging 2024, which saw a drop of approximately 60% in share value. The year was capped off with CEO Pat Gelsinger’s resignation, following an unsatisfactory turnaround initiative, and rumors concerning potential acquisition offers from competitors.

Intel’s shares saw an increase last week prior to a decline on Friday, and they appear poised to begin this week of trading positively after markets were closed on Monday in observance of Presidents Day in the U.S.

On Tuesday, Intel’s shares experienced more than a 5% increase in premarket trading, even as they remain down nearly 46% over the past year. Broadcom’s stock showed minimal changes, while TSMC’s shares listed in the U.S. rose by less than 1% on the same day.