Intel gains after report company remains involved in Musk's Terafab project

Intel

07/10/2026 10:11

** Chipmaker Intel's INTC.O shares climb 1.5% to $114.23 premarket
** CEO Lip-Bu Tan says INTC will continue working on Elon Musk's Terafab chipmaking venture, Bloomberg News reports
** Report comes days after Musk said TSMC 2330.TW and Terafab had held discussions over potential cooperation
** Terafab is Elon Musk's planned chipmaking facility to produce AI chips for Tesla and SpaceX
** Intel and Tesla did not immediately respond to Reuters requests for comment outside regular business hours
** As of last close, INTC up more than threefold YTD

(Reporting by Jayasree Prabhu)
((jayasree.prabhu@thomsonreuters.com))