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Intel's stock price rises after joining the Terafab chip project
Investing.com – Intel Corp.'s (NASDAQ:INTC) share price rose 2% Tuesday morning. Earlier, the chipmaker announced that it would join the Terafab project alongside SpaceX, xAI, and Tesla to jointly produce chips.
After news came out over the weekend that Intel hosted Elon Musk and confirmed its participation in this collaboration plan, the stock climbed.
Intel said on the X platform that it will contribute its large-scale production capacity in the design, manufacturing, and packaging of ultra-high-performance chips to support Terafab’s goal of producing 1 terawatt of computing capacity per year for artificial intelligence and robotics applications.
The Terafab project brings Intel together with SpaceX, xAI, and Tesla, all under Musk, to redesign silicon wafer manufacturing technology. Intel’s participation will focus on leveraging its manufacturing expertise to help accelerate the project’s production targets.
This collaboration represents a partnership between one of the world’s best-known semiconductor manufacturers and companies focused on electric vehicles, space exploration, and artificial intelligence development.
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