Why MU, INTC, MRAM Shares Hit 52-Week Highs Today

Intel stock jumped on reports of a preliminary agreement with Apple (AAPL) to manufacture some of the chips used in its devices, marking a breakthrough for Intel’s foundry ambitions. The speculation comes after Intel joined Tesla Inc.’s (TSLA) Terafab project in April.

Intel Stock Surges 3.62% to $129.44 on Apple Deal Hopes and AI Momentum

Beyond Apple, Intel has forged ties with Elon Musk's xAI, Tesla and SpaceX through the Terafab super-chip project. It repurchased full control of its Fab 34 facility in Ireland for $14.2 billion, a move seen as a vote of confidence in its ...

Tesla Giga Texas buzzing as new Cybertruck appears to enter production

This facility forms a central element of Tesla’s broader North Campus expansion at Giga Texas. The project will add more than 5.2 million square feet of new industrial space. It sits alongside other advanced developments, including a Terafab for next-gen AI chips.

SpaceX's $55 Billion Terafab Project Sparks Caution Among Wall Street Analysts

On May 11, 2026, news broke about Elon Musk's ambitious Terafab project, which could significantly benefit Intel Corp (NASDAQ: INTC) and various chip equipment companies. According to Wedbush, SpaceX plans to invest $55 billion into a proposed semiconductor manufacturing project in Texas, with total costs potentially reaching $119 billion if expansion phases proceed.

Elon Musk's Terafab plan could boost Intel and chip equipment firms

What makes the story especially interesting for Intel is the reported plan to use the company's future 14A manufacturing process. If that relationship ultimately materializes, Wedbush believes it could represent a meaningful validation of Intel's foundry ambitions at a time when the company is fighting to prove it can compete again in advanced chip manufacturing.

Elon Musk Announces xAI Will Become SpaceXAI Division - Not a Tesla App

The existing xAI logo will likely be phased out, and a new SpaceXAI logo, which conveniently still has the xAI letters in the name, will be designed and presented. The formation of SpaceXAI consolidates both hardware and software resources into a single entity. With the ongoing development of the $119 billion TERAFAB semiconductor fab and the new capabilities of the upcoming Starship V3, SpaceX is rapidly evolving beyond a traditional launch provider with an internet side business.

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Terafab will eventually produce one terawatt of computing capacity a year, compared with about half a terawatt currently generated across the United States, Musk had said in March. Building enough chip capacity to power one terawatt of annual compute would cost between $5 trillion and $13 trillion in capital expenditure, according to Bernstein estimates. Tesla ​plans to use Intel’s 14A manufacturing ​process to make chips at the ⁠Terafab project.

SpaceX plans $55B Texas chip plant with Tesla, Intel

The Terafab project aligns with U.S. efforts under the CHIPS and Science Act to boost domestic semiconductor manufacturing and reduce reliance on overseas suppliers like TSMC and Samsung.

SpaceX plans $55B Texas chip plant ahead of June IPO

SpaceX, partnering with Tesla, has filed plans to invest $55 billion in a Texas-based semiconductor facility named Terafab, aiming to secure advanced AI chip supplies in-house. The project could expand to $119 billion over multiple phases and aligns ...

Intel's Lip-Bu Tan conferred Jensen Huang with an honorary doctorate, while simultaneously revealing: 'We are collaborating with NVIDIA on an exciting new product.'

Against this backdrop, Intel’s contract manufacturing business is emerging as a key option for NVIDIA to diversify its production capacity. Intel recently secured contract manufacturing orders from TeraFab and Apple, which the market views as critical milestones in rebuilding external client confidence in its foundry operations, laying the groundwork to attract major clients like NVIDIA.

Intel’s Chen Liwu puts a doctoral cap on Jensen Huang and simultaneously reveals: Collaborating with Nvidia on “exciting new products.”

Against this background, Intel’s foundry business is becoming an important option for NVIDIA to seek diversified capacity. Intel has recently secured foundry orders from TeraFab and Apple, which the market sees as key milestones in restoring external customer confidence in its foundry business, and has also laid a foundation for attracting major clients like NVIDIA.