TSMC is the world's largest contract chip manufacturer. It handles more than half of the chip production for fabless chip companies such as Nvidia, Apple, Broadcom, and Advanced Micro Devices, and roughly 90% of advanced chips.

Intel on Monday announced the retirement of chief executive Pat Gelsinger. The move, which was effective Sunday, comes as the U.S. chipmaker struggles to keep up in the hypercompetitive semiconductor market and as its stock price has tumbled.

The chipmaker is considering at least two people outside the company to replace former CEO Pat Gelsinger, who abruptly retired on Sunday.