By David Moadel
Publication Date: 2026-10-05 17:02:00
Elon Musk confirmed talks between his ambitious Texas chip venture and the world’s largest foundry, sending one semiconductor giant to a record high while splitting the broader chip sector in an unusual way.
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Early-stage, unconfirmed talks with Terafab, a chip-manufacturing venture planned for Texas, have sent Taiwan Semiconductor Manufacturing (NYSE:TSM | TSM Price Prediction) stock to a record. Taiwan Semiconductor stock is up 2% to $484.19 in midday trading, after touching an intraday record high during the session. No agreement has been announced, so the rally rests on what Taiwan Semiconductor might gain from a role in the venture’s Texas factories.
Sector funds tell a different story than the record in Taiwan Semiconductor stock, and they show how narrow the move is. Meanwhile, the iShares Semiconductor ETF (NASDAQ:SOXX) is down…
