Stock Market Today, April 8: Intel Surges After Joining Elon Musk Terafab AI Chip Project

By Josh Kohn-Lindquist – Apr 8, 2026 at 4:57PM ESTIntel (INTC +11.38%), a maker of microprocessors for PCs and data centers, closed Wednesday at $58.95, up 11.42%. The stock moved higher as investors digested yesterday’s news that Intel was joining Elon Musk’s Terafab AI chip project. The market is watching how this partnership strengthens its AI and foundry roadmap. Trading volume reached 179.7 million shares, coming in about 64% above its three-month average of 109.3 million shares. Intel IPO'd in 1980 and has grown 18,009% since going public.How the markets moved todayThe S&P 500 rose 2.52% to 6,783, while the Nasdaq Composite gained 2.80% to finish at 22,635. Industry peers Advanced Micro Devices closed at $231.82 (+4.64%) and Nvidia ended at $182.08 (+2.23%), reflecting continued enthusiasm for chip stocks.What this means for investorsAfter rising 4% on Tuesday, Intel stock added another 11% gain today, as the market continued to digest news of the company joining in on Elon Musk’s Terafab Project. Terafab is a massive semiconductor fabrication project led by Tesla, SpaceX, and xAI, aiming to produce AI chips at an unprecedented scale.Though the project is in its early innings (maybe even pre-game warmups), this is a vote of confidence for Intel as it looks to boost its market share in a niche dominated by Taiwan Semiconductor Manufacturing. Analyst opinions on the news ranged from optimistic (with price target upgrades) to wait-and-see, with another analyst viewing the Terafab project as potentially leading to an eventual merger among Musk’s three companies.Read NextApr 7, 2026 •By Emma NewberyStock Market Today, April 7: Intel Rallies as it Joins Musk's Terafab ProjectApr 7, 2026 •By Keith NoonanIntel Is Teaming Up with SpaceX, Tesla, and xAI: Is This a Game Changer?Apr 4, 2026 •By Joe TenebrusoWhy Intel Stock Surged This WeekApr 3, 2026 •By Parkev Tatevosian, CFAMassive News for Intel Stock InvestorsApr 2, 2026 •By Eric TrieStock Market Today, April 2: Intel Rises on $14.2 Billion Fab 34 Stake RepurchaseApr 2, 2026 •By Billy DubersteinHere's Why Intel Stock Is a Buy Before EarningsAbout the AuthorJosh Kohn-Lindquist is a contributing Motley Fool stock market analyst covering consumer goods, industrials, and technology stocks. Previously, Josh was a senior mutual fund accountant at Gemini Fund Services. He holds a bachelor’s degree in business management from the University of South Dakota.TMFJorykoX@JorykoliStocks MentionedIntelNASDAQ: INTC$58.95(+11.42%)+$6.04*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.