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Intel is rising on a report that two leading AI names are running manufacturing tests using its chipmaking technology.

Key Takeaways Intel shares were up Monday after a report said Nvidia and Broadcom are running tests of its chip manufacturing process.Successful tests could mean chip manufacturing contracts for Intel worth hundreds of millions,

Intel was gaining early Monday on the prospect its chip-manufacturing business could gain major customers in Nvidia and Broadcom. Chip designers Nvidia and Broadcom are both running tests on Intel’s 18A manufacturing process,

Intel shares powered higher in early Monday trading following reports that both Nvidia and Broadcom are looking to test the chipmaker's advanced AI production techniques in what could be an early and important endorsement of its nascent turnaround plans.

Intel (INTC) shares climbed nearly 4% in morning trading on Friday after a Reuters report said that Nvidia (NVDA) and Broadcom (AVGO) are running manufacturing tests using Intel’s 18A process. The report also stated that Advanced Micro Devices (AMD) is evaluating Intel’s technology but did not confirm whether AMD has submitted test chips for production.

Update: The story updated with stock price movement, and Nvidia and TSM declining to comment. Nvidia (NASDAQ:NVDA) and Broadcom (NASDAQ:AVGO) are carrying out manufacturing tests with Intel (NASDAQ:INTC) Reuters reported,