To The Moon

$Taiwan Semiconductor Manufacturing(TSM)$  didn’t need a signed Terafab contract to get Wall Street’s attention.

After Elon Musk confirmed that TSMC is in discussions around the massive chip project, TSMC jumped 2.75% to a record $485.80.

At the same time, Intel fell 2.63% to $116.19.

That divergence is what makes this story interesting.

Intel had previously been the only publicly named foundry partner for Musk’s Terafab plans, with Musk saying the project would use Intel’s 14A process.

Now TSMC is part of the conversation.

But here’s the important distinction:

TSMC is not replacing Intel — at least not based on what has been confirmed.

Musk has described the TSMC discussions as preliminary, and there is no disclosed contract, order size, production volume or final capacity allocation.

TSMC could potentially supplement Intel, rather than take its place.

Still, the market reaction says something.

TSMC investors see another potential source of advanced-chip demand.

Intel investors are suddenly having to consider a more competitive Terafab landscape.

And that’s bigger than one project.

The real story is the growing scramble for leading-edge semiconductor manufacturing capacity.

If Musk’s ambitions require enormous quantities of advanced chips, having multiple foundry partners could make sense.

For TSMC, even being considered for the project reinforces its position at the centre of advanced chip manufacturing.

For Intel, the next step matters much more than Monday’s share-price move.

Can it turn its early Terafab involvement into a confirmed, meaningful manufacturing relationship?

That’s what I’ll be watching.

📌 Catalyst: Terafab discussions

🏭 Key debate: TSMC + Intel or TSMC vs Intel?

⚠️ Risk: No contract has been announced