Intel shares firm as CEO, Musk clarify Terafab AI role
Barron's reported Intel shares held up during the chip-sector slump after CEO Lip-Bu Tan and Elon Musk clarified Intel’s role in the Terafab AI chip project.
By Callum Keown Much ado about nothing? Intel stock was defying the chip slump Wednesday after CEO Lip-Bu Tan and SpaceX's Elon Musk clarified the company's role in the gigantic Terafab AI chip project. It's good news-or at least better news than it might have been when Musk said on Saturday he was in discussions with Taiwan Semiconductor Manufacturing over collaborating on the Tesla and SpaceX project that Intel joined in April. Tan said Intel will continue working on the project, Bloomberg News reported Wednesday, while Musk played down any potential involvement by TSMC.
"No, we will build and run the fab. Let there be ZERO doubt about that," he said in a post on X, replying to a suggestion that TSMC could own and run the plant. "Maybe TSMC subleases part of the Terafab if they want, but nothing more than that," he added. While not as bad as perhaps feared, TSMC's involvement still isn't great news for Intel.
It seems the market was under the impression Intel would have the project to itself. 7% over Monday and Tuesday and were flat Wednesday afternoon. 6%. 9%.
Intel stock remains up more than 205% in 2026. com This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. (END) Dow Jones Newswires October 07, 2026 14:51 ET (18:51 GMT) Copyright (c) 2026 Dow Jones & Company, Inc.
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