Musk's TSMC-Terafab talk sends Intel shares lower

Intel

05/10/2026 17:02

** Chipmaker Intel's INTC.O shares dip 2.35% to $116.53
** Tesla TSLA.O and SpaceX SPCX.O CEO Elon Musk said on Saturday on X that there were discussions over potential cooperation between TSMC and his chipmaking project, Terafab
** Responding on X to a screenshot of an article headlined "TSMC Exploring Plans to Work With Elon Musk's TeraFab," Musk wrote on Saturday: "Just discussions, but something may come of it"
** Potential TSMC involvement could challenge Intel's role in the Terafab project
** "The Musk news appeared to be the catalyst, but Intel's sharp rise in September left the stock vulnerable to a pullback," says Art Hogan, chief market strategist at B Riley Wealth  
** Tesla and Intel did not immediately respond to Reuters' requests for comments
** INTC shares rose ~34% in September amid strong demand for AI and semiconductor stocks  
** Including session's moves, INTC shares have more than doubled this year

 (Reporting by Darshan Kumar in Bengaluru)
 ((darshan.kumar@thomsonreuters.com))