Elon Musk Says Terafab Factory Could Produce World-Leading Chips

On October 10 local time, Elon Musk stated that leveraging his company's experience in custom equipment manufacturing, it could achieve leadership in chip production within the next few years. Speaking at an event in Austin, Texas, Musk described chip manufacturing as one of the most challenging technical fields globally. He is driving a collaboration between Tesla, SpaceX, and Intel to build the Terafab chip factory in Grimes, Texas, with initial investments exceeding $15 billion and plans to create 3,000 jobs. The facility will be constructed in phases on approximately 3,000 acres and will receive a $30 million grant from the Texas Enterprise Fund.