Intel stock drops after Elon Musk hints Terafab could partner with a rival chipmaker

Business Insider | 05-10-2026 04:48pm |

Intel's stock fell 3% to a low of $115.31 at the start of the week, following a weekend post by Elon Musk that hinted at a potential partnership with TSMC. Musk responded to a report by Tim Culpan suggesting that TSMC could work with Terafab, Musk's planned semiconductor plant involving Tesla, SpaceX, and Intel, saying, "Just discussions, but something may come of it." TSMC shares rose about 1% on Monday. No deal has been confirmed between Musk's companies and TSMC, but the market reacted to the possibility.

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