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.

To push the tech industry to migrate chip manufacturing to the US, Trump has threatened to impose tariffs as high as 100% on all foreign-made processors.

Arm is set to release its own chip before the end of this year, having reportedly secured Meta as its first customer for the project. According to a report in the FT, the chip is expected to be a data center CPU, built on a customizable base. Its production will be outsourced to manufacturers such as TSMC.

In what is a significant development for the semiconductor industry, chip designer Arm Holdings (ARM) has reportedly secured Meta Platforms