Intel Corp. (NASDAQ:INTC) is one of the 10 Stocks That Would Have Boosted Your Portfolios by Double Digits.
Intel Corp. extended its winning streak to a 6th straight session on Wednesday, climbing 11.42 percent to finish at $58.95, following news that it would join Elon Musk’s long-shot effort to develop semiconductors capable of powering 1 terawatt of computing capacity annually.
In a post on X, Intel Corp. (NASDAQ:INTC) said that it would join Musk’s Terafab project with SpaceX, xAI, and Tesla to help refactor silicon fab technology, in its latest effort to restore its status as one of the leading chipmakers.
Intel Corp.’s headquarters, the Robert Noyce Building in Santa Clara, California. Photo from Intel Corp website
“Our ability to design, fabricate, and package ultra-high-performance chips at scale will help accelerate Terafab’s aim to produce 1 TW/year of compute to power future advances in AI and robotics,” it said.
Terafab is one of Musk’s flagship projects with an aim to manufacture his own chips for robotics, AI, and space data centers.
“Terafab represents a step change in how silicon logic, memory, and packaging will get built in the future,” Intel Corp. (NASDAQ:INTC) Chief Executive Officer Lip-Bu Tan said in a separate post on X.
“Intel is proud to be a partner and work closely with Elon on this highly strategic project.”
Musk said last month that the Terafab project would be developed in Austin, Texas, and jointly run by Tesla and SpaceX.
While we acknowledge the potential of INTC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy.
Disclosure: None. Follow Insider Monkey on Google News.
