Chip designers Nvidia and Broadcom are running manufacturing tests with Intel, two sources familiar with the matter told Reuters, demonstrating early confidence in the struggling company's advanced production techniques.

Intel’s board has been in talks with potential buyers and the U.S. government, The Wall Street Journal said. Former CEO Gelsinger stepped down in December.

Chip designers Nvidia and Broadcom are running tests on Intel’s 18A manufacturing process, it was reported on Monday.

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.