US Stock Market Move | Intel Corporation (INTC.US) rose more than 7% in early trading, with a cumulative increase of around 30% for the month.

On Wednesday, Intel Corporation(INTC.US) surged over 7% in early trading, with a monthly increase of about 30%, reaching a new high since April 2021. On the news front, Intel Corporation announced its participation in Elon Musk's "Terafab" project, where they will collaborate to advance semiconductor manufacturing and high-performance chip development. This move has opened an important window for Intel Corporation's long-awaited foundry business. Intel Corporation stated that its capabilities in chip design, manufacturing, and packaging will help "Terafab" achieve its production target of 1 terawatt of computing power per year, providing computational support for the future development of AI and Siasun Robot & Automation technologies. Analysts pointed out that the above cooperation is of great significance for Intel Corporation. The chip giant has been seeking external foundry customers for years, but has not yet announced any substantial agreements. The collaboration with Musk's affiliated companies may become a key breakthrough for its wafer foundry business expansion.