Shares of Intel are jumping more than 7% in premarket trading following a report that TSMC has approached U.S. chip designers Nvidia, Advanced Micro Devices, and Broadcom about forming a joint venture to own and run the chipmaker's foundry division.

Taiwan Semiconductor Manufacturing has pitched Nvidia and rival chip designers Advanced Micro Devices and Broadcom the idea of taking stakes in a joint venture to operate Intel’s chip-fabrication operations,

TSMC reportedly asked its biggest customers to invest in joint venture that would operate Intel's production facilities.