INTC is trading at $76.57 (+17.31%) in after-hours following reports of a major partnership with Tesla for Intel's 14A chips.
- Elon Musk announced the collaboration for Tesla's Terafab AI chip project, which aims to utilize Intel's 14A process technology.
- The stock previously gained 4.3% during the regular session to close at $68.07, bucking broader market declines as rumors of the deal surfaced.
- No other after-hours catalysts, such as earnings, were reported; the outsized move is attributed entirely to the partnership news.