StocksMedium•5 October 2026•
1 min read
Intel Shares Fall as Elon Musk Confirms TSMC Involvement in Terafab Project
Key Facts
1Intel shares fell 2% after Elon Musk confirmed that TSMC could participate in his Terafab chip-making project.
2TSMC's US-listed shares gained 1.4% following the announcement.
Intel shares fell 2% after Elon Musk confirmed that TSMC could participate in his Terafab chip-making project. Invezz reported that TSMC's US-listed shares gained 1.4% following the announcement, as the potential partnership introduces a formidable competitor to a venture previously viewed as a tailwind for Intel.
INTC closed at $119.33 on October 2, 2026, while TSM shares recorded a close of $472.78 on the same date. The involvement of TSMC in the Terafab project raises concerns regarding heightened competition for Intel in strategic growth areas where it seeks to maintain its market position.