Intel is coming on board Elon Musk's ambitious Terafab chip-production project.

SpaceX, and xAI in a new Terafab AI chip manufacturing initiative focused on domestic production for advanced computing. The Terafab facility is intended to support AI, robotics, and autonomous vehicle workloads across the partnered companies.

Shares of Intel extended gains for a seventh consecutive session on Thursday after the chipmaker announced an expanded collaboration with Google to develop next-generation processors for artificial intelligence data centers.