Intel shares jumped 20% on its projected revenue surges from AI data centers.

The US chip giant, which last year required a government rescue, has seen a recent revival after years of trailing rival TSMC: Its new manufacturing processes are among the most advanced in the industry, comparable to TSMC’s. It received a particular boost this week when Elon Musk said his Terafab project would use that new process to make semiconductors for all his companies, including Tesla, SpaceX, and xAI.

Though initial production is still years away — and some analysts are skeptical of Musk’s timelines and budgets — if it all goes to plan, Terafab will be the largest chip factory on the planet.