Intel’s rivals Taiwan Semiconductor Manufacturing Co. and Broadcom are each eyeing potential deals that would break the American chipmaking icon in two. Broadcom has been closely examining Intel’s chip-design and marketing business,

TSMC could address Mr. Trump’s demands by simply building more manufacturing capacity in the United States, said Stacy Rasgon, a semiconductor analyst at Bernstein Research. TSMC, which received up to $6.6 billion in grants from the CHIPS Act, is building three factories in Arizona and has the ability to expand there.

The Trump administration is reportedly casting about for unorthodox strategies to preserve advanced manufacturing in the U.S.