Intel Jumps 9% on Major Collaboration with Elon Musk’s Terafab Project

Intel (INTC) shares surged 9% after the company announced it will partner with Elon Musk’s ambitious Terafab semiconductor initiative. This partnership marks a significant step in Intel’s ongoing turnaround efforts and gives it a high-profile role in one of the most ambitious chip manufacturing projects in the industry. What Is Terafab? Terafab is Musk’s plan to build massive semiconductor manufacturing capacity to support Tesla, SpaceX, and xAI. The project aims to produce chips for robotics, AI training, and space data centers, with an ultimate goal of reaching 1 terawatt of compute capacity per year — an enormous scale that could eventually challenge TSMC’s dominance. Details of the Deal Intel will help “refactor” chip technology inside a Terafab factory, focusing on improving power eff...