An earlier, and contradictory, report caused Nvidia's stock to slip.
GlobalFoundries, which fabricates chips for Advanced Micro Devices, said on Thursday that Tesla had not committed to working with it on any autonomous driving technology or product, contradicting an earlier media report.
CNBC reported on Wednesday, citing a source familiar with the matter, that Tesla was working with AMD to develop its own artificial intelligence chip for self-driving cars.
The report said GlobalFoundries Chief Executive Sanjay Jha’s company was working directly with Tesla.
“Tesla has not committed to working with us on any autonomous driving technology or product,” the spokesperson said in an email on Thursday.
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The spokesperson for GlobalFoundries said that Jha’s comments at the GlobalFoundries Technology Conference were not reported accurately.
The spokesperson said that in his presentation, Jha simply cited that companies like Apple aapl , Google googl , and Tesla tsla are examples of companies showing interest in working closely with Silicon Valley companies to differentiate their offerings.
Shares of rival chip producer Nvidia, which fell as much as 4.7% nvda on Thursday morning, pared some of its losses and were down 2.9%.
Shares of AMD amd and Tesla were marginally lower.