Intel, a fallen Silicon Valley icon trying to restore its reputation as America’s most prominent semiconductor company, is working with the Trump administration on a plan to turn over the operation of its chip-making plants to a giant Taiwanese rival.

(Reuters) -Taiwanese contract manufacturer TSMC is considering taking a controlling stake in chipmaker Intel's factories at the request of U.S. President Donald Trump's officials, Bloomberg News reported on Friday.

A rumored joint venture between Intel Corp. and its biggest rival, Taiwan Semiconductor Manufacturing Co. TSM, could pose more potential problems than it’s worth, and the U.S. chip giant could actually fare fine without it, Bernstein Research concluded.