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Intel Corporation (NASDAQ: INTC) saw its shares rise 2.2% to $38.06 in after-hours trading on Thursday following remarks by Tesla CEO Elon Musk about a potential partnership between the two companies. Speaking at a Tesla Inc. (NASDAQ: TSLA) shareholder meeting, Musk revealed that Tesla may collaborate with Intel to develop processors for artificial intelligence and robotics applications, signaling a potential shift in Tesla’s chip strategy.
Musk added that Tesla could even build its own chip manufacturing facility to meet the growing demand for semiconductors powering its autonomous vehicles, robotaxi network, and robotics projects. The comments highlight Tesla’s increasing focus on in-house innovation and self-reliance amid the global race for AI dominance.
Currently, Tesla sources its advanced AI chips from Taiwan Semiconductor Manufacturing Company (TSMC) and Samsung Electronics. Musk had previously confirmed during Tesla’s third-quarter earnings call that both TSMC and Samsung are producing the next-generation AI5 chip in their U.S. facilities. He also clarified that Tesla intends to continue using Nvidia’s hardware for its data centers, with no immediate plans to replace it.
A potential deal with Tesla could mark a major turning point for Intel, which has trailed competitors such as Nvidia and AMD in capitalizing on the surge in AI-driven demand over the past few years. Partnering with one of the world’s leading electric vehicle and AI innovators could strengthen Intel’s position in the semiconductor market and accelerate its efforts to regain technological leadership.
Musk’s comments came shortly after Tesla shareholders approved his massive $1 trillion compensation package, reaffirming investor confidence in his long-term vision for the company’s growth in AI, robotics, and sustainable transportation.
