US Stocks: Intel to join Elon Musk's Terafab mega AI chip project

Intel said on Tuesday ​it would join ​Elon Musk's Terafab AI chip ​complex project along with SpaceX, Tesla and xAI.

Last month, Musk said his rocket company ‌SpaceX - which ⁠recently ⁠merged with his social media and artificial intelligence company xAI - and EV firm Tesla would build two advanced chip factories at a sprawling facility in Austin, Texas, one to power ⁠cars and ‌humanoid robots and another designed for AI data centers in ⁠space.

SpaceX, which confidentially filed for a ​U.S. initial public offering last ​week, plans a market launch later this year.


"Our ability to design, fabricate, and package ultra-high-performance chips at scale will help accelerate Terafab's ‌aim to produce 1 terawatt per year of compute to ​power future ​advances ⁠in AI and robotics," Intel said in a post on social media platform X.

Shares ​of Intel were up about 2% in early trading. They have risen around 38% so far this year.