Apple supplier TSMC has reached a preliminary agreement with Intel that will see TSMC operating Intel’s chipmaking facilities, reports

Apple could benefit from more chip fab availability in the United States in the coming years thanks to a joint venture that will bring TSMC talent to Intel foundries.

A new report from The Information claims that executives from Intel and Taiwan Semiconductor Manufacturing Co. have entered into a "preliminary agreement" that would form a joint venture between the two chip makers. The new venture would operate Intel's foundries and TSMC would take 20% stake in the new company.