Intel stock rose 1.58 percent to USD 114.28 on Nasdaq at 10:45 a.m. ET on October 7, 2026, after CEO Lip-Bu Tan confirmed the company will stay involved in Elon Musk's Terafab chip project. The previous close stood at USD 112.50.

Reuters reported the confirmation on October 7, 2026, citing comments Tan made to Bloomberg ahead of an event in Tokyo. The statement addresses concerns that discussions between Musk and Taiwan Semiconductor Manufacturing could weaken Intel's position in the planned Texas project.

Intel joined Terafab as a development partner in April 2026. The October 7 report did not disclose a contract value, production volume or delivery timetable.

What does the Terafab role mean for Intel Foundry?

The project serves as a strategic test for Intel Foundry. Intel is expanding sales, and investors are watching whether the foundry strategy converts demand into durable profits.

The Q2 2026 results illustrate the tension. Intel reported USD 16.13 billion of revenue, up 25.2 percent year over year, with adjusted EPS of USD 0.42 against USD 0.21 expected, according to MarketBeat.

Where do analysts stand on the stock?

MarketBeat's consensus from 50 analysts stands at Hold:

• 1 Strong Buy
• 20 Buy
• 26 Hold
• 3 Sell

The average price target of USD 109.06 sits 4.6 percent below the October 7 quote.

Mizuho raised its Intel target from USD 92.00 to USD 114.00 on October 6, 2026, keeping a Neutral rating. That target sits 0.2 percent below the October 7 intraday price, leaving Terafab execution and the Q3 report as the next measurable tests.

What are the key trading data points?

At 10:45 a.m. ET on October 7, 2026:

• Price: USD 114.28 (session range USD 111.15–115.29)
• 52-week range: USD 32.89–142.35
• Market capitalization: USD 576.4 billion
• Volume: 38,473,132 shares

When does Intel report Q3 results?

Intel's investor-relations release, published October 6, 2026, schedules Q3 2026 results for October 29, 2026, after market close, with a conference call at 2:00 p.m. PDT.

Company data: Intel Corp. (ISIN US4581401001, ticker INTC), Nasdaq, Technology / Semiconductors.