AMD's Lisa Su on Intel investment rumors and TSMC strategy

AMD CEO Lisa Su addressed rumors about a possible collaboration with Intel and stopped short of ruling it out. Speaking on Bloomberg, she said AMD has put a lot of energy into building a strong supply chain and continues to work closely with TSMC, while also stressing that the company places high value on manufacturing inside the United States.

She noted that AMD works closely with TSMC across the supply chain and added that expanding production in the U.S. is important, especially for the broader artificial intelligence technology ecosystem. The answer sounded less like a dismissal than a pragmatic reading of today’s manufacturing map.

The rumors surfaced after Semafor reported that AMD is considering an investment in Intel and that talks are still at an early stage. Although details remain unclear, the discussion comes in the wake of recent investments in Intel by Nvidia, SoftBank, and entities linked to the administration of Donald Trump.

Analysts point out that AMD and Intel have traditionally competed in processors and data center solutions and depend on different manufacturing chains—AMD largely relies on TSMC. Even so, potential involvement in Intel’s projects could indicate AMD’s interest in Intel’s 18A process and a “dual foundry” strategy.

For now, it is all speculative. Still, Su’s careful wording leaves room for interpretation and has drawn fresh attention to how the two semiconductor heavyweights might choose to interact.