Intel CEO Lip-Bu Tan Says Company Will Keep Working on Terafab — Elon Musk Confirms TSMC May Only Sublease Part of the Fab, Not Own It

What happened: Intel CEO Lip-Bu Tan said the company will keep working with Elon Musk on Terafab. Musk said his companies will build and run the fab, and that TSMC may only sublease part of it. Why it matters: Intel's stock declined after Musk confirmed early-stage talks with TSMC about a role in Terafab. The possible TSMC involvement raises questions about the degree of Intel's involvement. Market: -2.2% by next close ($104.70 on Oct 9), +149.2% YTD Coverage: 3 outlets in 24h

Intel CEO Lip-Bu Tan said the company will keep working with Elon Musk on Terafab. Musk said his companies will build and run the fab, and that TSMC may only sublease part of it.

Intel's stock declined after Musk confirmed early-stage talks with TSMC about a role in Terafab. The possible TSMC involvement raises questions about the degree of Intel's involvement. Market: -2.2% by next close ($104.70 on Oct 9), +149.2% YTD