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,

Shares of Intel rose on Wednesday following a Reuters report that TSMC has pitched Nvidia, AMD, and Broadcom on a plan to run Intel's chip manufacturing business.

Chipsets known as graphics processing units (GPUs) are perhaps the most important hardware in generative AI development right now. For the last couple of years, investing in semiconductor stocks has generally been a great idea -- as you're nearly guaranteed some form of exposure to GPUs or data centers.