Technology giants Intel and TSMC are reportedly forming a partnership.

According to The Information, the two companies have reached a preliminary agreement to establish a joint venture that will manage Intel’s chip manufacturing facilities, with TSMC holding a 20% stake in the new entity.

Rather than providing financial investment for its stake, TSMC will share its chip manufacturing expertise with Intel employees and provide training, as reported by The Information.

The discussions were allegedly initiated by the Trump administration as part of an effort to support Intel’s turnaround efforts, amid concerns among Intel executives about potential large-scale layoffs.

This development comes less than a month after the appointment of investor and entrepreneur Lip-Bu Tan as Intel’s CEO, who was expected to implement significant changes at the company, as previously reported.

TSMC declined to comment on the matter, while TechCrunch has reached out to Intel for a statement.