SpaceX plans massive chip factory investment in Texas
SpaceX, the space and aerospace company led by billionaire Elon Musk, is planning to invest 55 billion dollars in the construction of a semiconductor chip manufacturing facility in the U.S. state of Texas.
According to a statement published on the website of Grimes County, Texas, details were shared regarding the investment currently under consideration by SpaceX, CE Report quotes Anadolu Agency.
The statement noted that the company has proposed building a semiconductor chip manufacturing facility in a reservoir area within the state.
The project was described as “a transformative investment in domestic semiconductor manufacturing capacity,” with SpaceX planning an initial investment of 55 billion dollars in the first phase.
The announcement added that the investment could eventually increase to as much as 119 billion dollars through additional future phases.
Musk had previously announced the project, called “Terafab,” in a post on the social media platform X on March 14, stating that it would begin within seven days.
