Last month, Musk said his rocket company SpaceX - which ​recently merged with his social media ​and artificial intelligence company xAI - and ⁠EV firm Tesla would build two ​advanced chip factories at a sprawling facility ​in Austin, Texas, one to power cars and humanoid robots and another designed for AI data ​centres in space.

SpaceX, which confidentially filed ​for a US initial public offering last week, ‌plans ⁠a market launch later this year.

“Our ability to design, fabricate, and package ultra-high-performance chips at scale will help accelerate Terafab’s ​aim to ​produce ⁠1 terawatt per year of compute to power future advances ​in AI and robotics,” Intel said ​in ⁠a post on social media platform X.

Shares of Intel were up about 2% ⁠in ​early trading. They have ​risen around 38% so far this year.