Intel stock surged after Tesla CEO Elon Musk publicly stated at Tesla’s annual shareholder meeting that the company is open to partnering with Intel for future AI chip production to support its autonomous driving and robotics ambitions. Musk emphasized that Tesla’s current suppliers, TSMC and Samsung, may not be able to meet the company’s long-term chip demand, prompting consideration of Intel as a strategic partner. This development signals a possible major customer win for Intel’s foundry business and increased investor optimism about Intel’s ability to capitalize on AI-driven demand, following a period where it lagged peers in the sector.
