Intel, a fallen Silicon Valley icon trying to restore its reputation as America's most prominent semiconductor company, is working with the Trump administration on a plan to turn over the operation of its chip-making plants to a giant Taiwanese rival. Over the past few months, Frank Yeary, the interim executive chairman of Intel, has spoken with administration officials and leaders of Taiwan Semiconductor Manufacturing Company about a deal that would separate Intel's ailing manufacturing business from its semiconductor design and product business, according to four people with knowledge of the plan, who spoke on the condition of anonymity. TSMC, which produces an estimated 90 percent of the world's most advanced semiconductors, would assume control of Intel's manufacturing business and take a majority stake in the business alongside a consortium of investors that could include private equity firms and other tech companies, the four people said. The Trump administration has encouraged TSMC to do the deal.