In the on-again, off-again saga of TSMC's supposed designs on Intel's chip factories, there's a new twist. Reuters reports that TSMC has pitched Nvidia, AMD and Broadcom with the idea of a joint venture to take control of Intel's struggling fabs.

Shares of some of the biggest semiconductor players, including Nvidia Corp. (NVDA), Advanced Micro Devices Inc. (AMD), and Broadcom Inc. (AVGO), among others, surged by as much as 6% on Wednesday even as U.