BUZZ-Intel rises after report Nvidia, Broadcom using its processes to test chips

Shares of chipmaker Intel INTC.O up 5.9% to $25.14 in premarket trading

Nvidia NVDA.O and Broadcom AVGO.O are running manufacturing tests with Intel, Reuters reports, citing two sources familiar with the matter

The tests are using Intel's 18A process, a series of technologies and techniques developed over years that is capable of making advanced AI processors and other complex chips

The two tests indicate the companies are moving closer to determining whether they will commit hundreds of millions of dollars' worth of manufacturing contracts to Intel, according to the report

Intel stock fell 60% in 2024