Intel Corp. (NASDAQ: INTC) CEO Lip-Bu Tan stated that the company will continue working on the Terafab project, according to a report citing an interview with Bloomberg. Tan made the remarks ahead of an event in Tokyo commemorating Intel's 50th year of operations in Japan.
The Terafab project is a planned semiconductor complex aimed at producing 1 terawatt of computing capacity for artificial intelligence and robotics per year. Intel previously announced that it is collaborating with Tesla, Inc. (NASDAQ: TSLA), and Space Exploration Technologies Corp. (NASDAQ: SPCX) on the initiative.
Elon Musk, the CEO of Tesla, responded to discussions regarding the involvement of Taiwan Semiconductor Manufacturing Co. (NYSE: TSM) in the project. Musk confirmed that his companies will build and run the Terafab facility. He stated that while TSMC might sublease part of the fab, his companies will retain full control over the construction and operation of the complex.
Intel shares were seen trading at $114.95 during pre-market trading on Wednesday, following a year-to-date surge of 204.88%.
