Intel's stock saw a significant uptick following comments from Tesla CEO Elon Musk about a potential manufacturing partnership. At Tesla's annual meeting, Musk suggested that the electric vehicle maker might work with Intel for its fifth-generation AI chips, which are crucial for its autonomous driving and robotics ambitions. While Musk stated that no deal has been signed, the mere possibility of a collaboration with Tesla was enough to generate positive investor sentiment. He mentioned that it's "probably worth having discussions with Intel" regarding the production of these advanced chips. Intel has been working to re-establish its leadership in chip manufacturing and securing a high-profile customer like Tesla for its foundry services would be a significant win. The market reacted positively to the news, with Intel's shares rising in after-hours trading following Musk's remarks. This potential deal comes as the U.S. government has taken a stake in Intel, which is looking for external customers for its latest manufacturing technology.
Intel Shares Rise After Elon Musk Floats Potential AI Chip Partnership with Tesla
INTC
Related News
INTC
Intel Stock Declines as Market Awaits CFO's Remarks at Investor Conference
INTC
Intel Shares Slide as Meta’s Shift to Nvidia Grace CPUs Threatens Data Center Dominance
INTC
Nvidia Discloses $5 Billion Stake in Intel as AI Collaboration Deepens
INTC
Intel Executive Predicts AI PCs Will Comprise Half of Shipments in 2026
INTC