Tesla and SpaceX Pledge $16.8 Billion for Texas Terafab Chip Plant
Tesla and SpaceX said they will spend $16.8 billion on the first phase of Terafab, a semiconductor plant in Grimes County, Texas, to secure far more chips than current and future global production can supply. The project is described in SpaceX Texas tax-incentive filings as multiphase and potentially reaching $119 billion. Elon Musk leads both firms, and Tesla reported about $3.8 billion net income over the past 12 months.