Elon Musk and Intel CEO shore up chipmaker’s role in Terafab project — and here’s what the news is doing to the stock.

Elon Musk and Intel CEO shore up chipmaker’s role in Terafab project — and here’s what the news is doing to the stock. Intel CEO Lip-Bu Tan pictured at an event in Taipei on June 2, 2026. The CEO and Elon Musk came out swinging over speculation Intel won’t have a starring role in the Terafab chip-making project.

Elon Musk and the chief executive officer of Intel on Wednesday pushed back against doubts over the technology group’s role in the trillionaire’s Terafab chip-making project. CEO Lip-Bu Tantold Bloomberg ahead of an event in Tokyo that the company’s involvement in Terafab will continue. Meanwhile on his X account, Musk responded to a post speculating Taiwan Semiconductor Manufacturing Co.

Let there be ZERO doubt about that. Maybe TSMC subleases part of the Terafab if they want, but nothing more than that,” Musk replied. Video 91/1 Skip Ad Continue watching after the adVisit Advertiser websiteGO TO PAGE Why humanoid robots are so hard to mass-produceSee All Videos Why humanoid robots are so hard to mass-produce Play video: Why humanoid robots are so hard to mass-produce On Saturday, Musk acknowledged that TSMC could take part in his Texas-based chip venture.

That led to a more than 5% loss for Intel shares over Monday and Tuesday, but the stock rose around 1.5% ahead of Wednesday’s open. TSMC’s U.S.-listed stock saw a 3% bump on Monday, but slipped 1.6% ahead of Wednesday’s open. Don’t Short Yourself offers weekly money tips to help you earn it, stack it and grow it.

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The companies pledged to manufacture 1 terawatt of computing capacity a year — twice as much as is needed by the entire United States. Musk raised the idea of a deal with Intel in November 2025, after saying current partners wouldn’t be able to meet his chip demands, and the company was the first to offer its support for the high-profile project in April. Davidson managing director Gil Luria told MarketWatch on Monday that Terafab excitement has been a big driver behind Intel’s stock surge this year.