Elon Musk confirmed on October 3, 2026 that TSMC is in discussions with Terafab about working together on chip manufacturing in Texas. Intel, which became Terafab’s first manufacturing partner in April 2026, saw its shares fall 4% on the news. The talks remain at a preliminary stage and no agreement has been reached. Terafab, a joint venture between Tesla, SpaceX, and xAI, plans a vertically integrated semiconductor fabrication complex in Grimes County, Texas, with a first phase investment of approximately $16.8 billion, at least 3,000 jobs, and a target output of approximately 1 terawatt per year.
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