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Intel is in early talks with AMD to manufacture chips for it in its foundry business, according to a report from Semafor .

Intel shares rose 7% on Wednesday. AMD shares were up over 1%.

If AMD were to start manufacturing chips with Intel, it would be a significant win for the company's foundry business, which is currently seeking big customers. Analysts say that a big customer would allow Intel Foundry to confidently invest in developing its manufacturing technology and would send a signal to other chip companies that Intel can handle their business.

It would also signal that AMD, which competes with Intel in x86-based chips for PCs and servers, is confident doing its manufacturing with

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