SpaceX files plan for $55 billion Terafab chip facility in Texas

Elon Musk’s SpaceX, in a joint project with Tesla, has proposed investing $55 billion to build a semiconductor manufacturing facility, called Terafab, in Texas, according to a filing made public on Wednesday.

The billionaire has been seeking ‌to secure ⁠in-house ⁠access to advanced chips, though analysts have said the scale of capacity he has outlined would likely require far greater investment.

SpaceX is targeting a June IPO that could value the company at around $1.75 trillion.