Intel jumps as Reuters reports TSMC pitched JV to run US chipmaker's foundry

Shares of Intel INTC.O jump 7.7% to $21.30 premarket

Taiwan Semiconductor Manufacturing Co (TSMC) 2330.TW has pitched Nvidia NVDA.O, Advanced Micro Devices AMD.O and Broadcom AVGO.O about taking stakes in a joint venture that would operate INTC's factories, reports Reuters, citing four sources familiar with the matter

Report says under the proposal, TSMC would run Intel's foundry division operations, but would not own more than 50%

Adds Qualcomm QCOM.O has also been pitched by TSMC

Before bell, AMD, AVGO adds ~1% each, QCOM gains 0.6% and U.S.-listed shares of TSMC rises 1.1%

INTC down ~55% in last 12 months, as of last close