What happened: Shares of Taiwan Semiconductor Manufacturing Company (TSM) rose to touch intraday all-time highs on Monday. What's behind the move: The rise in TSM shares comes after Elon Musk acknowledged early-stage talks with Taiwan Semiconductor about a potential collaboration on his Terafab semiconductor initiative. In a recent newsletter, tech journalist Tim Culpan said, "TSMC is exploring ways to work with Elon Musk's Terafab to help the startup chipmaker run its new semiconductor factories in Texas, my sources tell me," Musk responded to a screenshot of the letter saying, "Just discussions, but something may come of it," on X over the weekend.
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