Intel Corp.‘s (NASDAQ:INTC) CEO Lip-Bu Tan said the company will continue working with Elon Musk on Terafab, according to a report.
Tan told Bloomberg, ahead of an event in Tokyo commemorating the U.S. company’s 50th year of operations in Japan, that the company would continue its involvement in Terafab.
Musk Says TSMC Will Only Sublease Part of Terafab
Intel’s stock saw a decline after Musk, on Saturday, confirmed early-stage discussions with Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE: TSM) about a potential role in his planned Texas-based Terafab semiconductor project.
However, on Wednesday, Musk responded to Tesla expert Herbert Ong and stated that his companies will build and run the Terafab AI chip complex.
“We will build and run the fab. Let there be ZERO doubt about that. Maybe TSMC subleases part of the Terafab if they want, but nothing more than that.
In April, Intel said that it was working with Space Exploration Technologies Corp. (NASDAQ: SPCX) and Tesla, Inc. (NASDAQ: TSLA) on Terafab. According to the company, its chip design, manufacturing and advanced packaging capabilities would enable the project’s goal of producing 1 terawatt of computing capacity for AI and robotics per year
The possible involvement of Taiwan Semiconductor spurs questions about the degree of Intel’s involvement in the process.
Price Action: On a year-to-date basis, INTC stock surged 204.88%, as per Benzinga Pro. The shares rose 2.18% to trade at $114.95 during Wednesday’s pre-market trading session.
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