The American chipmaker missed out on the generative AI boom and is now in talks with rivals to which it lost market share, according to a report from the ‘Wall Street Journal.’ Shares of Intel Corporation (NASDAQ:INTC) surged over 10% on Tuesday on the news that rivals Broadcom and Taiwan Semiconductor Manufacturing Co.

Intel stock fell Wednesday, ending a massive upswing that saw the stock notch its biggest five-day gain in its history as a publicly traded company.

Broadcom reportedly has some interest in Intel’s design business. But one analyst says “a lot seems like it needs to happen” for a deal to become reality.