Samsung discussed working with Intel on semiconductor pact: report
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Samsung (OTC:SSNLF) said on Tuesday that its Vice Chairman Lee Jae-yong recently met with Intel (NASDAQ:INTC) Chief Executive Pat Gelsinger on a number of issues, including a potential deal to produce more semiconductors, amid the global supply chain crunch, according to Nikkei Asia.
The two leaders met on Monday at Samsung's (OTC:SSNLF) offices in Seoul, South Korea and discussed product diversification, next-generation semiconductors and strengthening the global supply chain. The meeting came after Gelsinger attended the World Economic Forum in Davos, Switzerland.
Intel (INTC) shares were fractionally lower on Tuesday at $44.45 in premarket trading. 
Santa Clara, California-based Intel (INTC) has a nascent foundry business, whereas Samsung (OTC:SSNLF) has an established business, making chips for a number of clients, including Qualcomm (QCOM), Nvidia (NVDA), IBM (IBM) and Samsung (OTC:SSNLF) itself.
In March, Nvidia Chief Executive Jensen Huang said the graphics giant would be interested in using Intel (INTC) as a foundry partner.
Taiwan Semiconductor (TSM) is the global leader in the foundry business, making chips for a number of clients, including Apple (AAPL), Advanced Micro Devices (AMD) and others.
Earlier this month, Intel (INTC) published a filing that said shareholders of the semiconductor giant voted against the compensation of some of its top executives, including Gelsinger.