Intel and TSMC’s relationship has moved beyond direct competition into symbiosis that seeks balance through competition and creates value through cooperation. That’s according to Liu Pei-chen (劉佩真), a researcher at the Taiwan Institute of Economic Research (TIER).

Intel CEO Lip-Bu Tan (陳立武) will deliver a keynote speech at COMPUTEX on June 2 and is expected to meet with supply chain partners during his visit to Taiwan.

Liu says that the market is watching to see if Intel will further entrust the manufacturing of its next-generation chips to TSMC to consolidate its market share in the AI PC and data center markets. This will serve as a key indicator of the depth of cooperation between the two tech giants.

Liu says another market concern is whether Intel-TSMC cooperation will be impacted by geopolitical factors and the U.S. government’s investment in Intel. She adds that TSMC’s views on capacity planning, the progress of overseas expansion projects, and advanced packaging, which will become clearer following the annual shareholders’ meeting on June 4, may impact product timelines for the company’s clients, including Intel.