SpaceX Terafab chip plant

Elon Musk's SpaceX is planning a massive $55 billion investment to build a semiconductor factory called 'Terafab' in Austin, Texas.

The move is part of the billionaire's accelerating effort to secure the hardware needed to dominate the artificial intelligence industry.

The plant will focus on manufacturing custom AI chips designed to power advanced robotics and autonomous systems.

This strategic pivot into chipmaking aims to reduce SpaceX's reliance on external suppliers like Nvidia during a global hardware shortage.

The project has already received preliminary approval from local authorities, signaling a major expansion of Musk's industrial footprint in the Lone Star State.