Tesla (TSLA) intends to use Intel's (INTC) upcoming 14A process to make chips at its Terafab advanced artificial intelligence project in Austin, Texas, Reuters reported Wednesday, citing Tesla Chief Executive Elon Musk.
"Given that by the time Terafab scales up, 14A will be probably fairly mature or ready for prime time," Musk reportedly said. "14A seems like the right move, and we have a great relationship with Intel."
Intel shares were up 1.3% in premarket activity Thursday.
Tesla and Intel didn't immediately respond to MT Newswires' requests for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)