On October 10 local time, Musk stated that with experience in manufacturing customized equipment, his companies might lead in the chip manufacturing sector in the future, though it would take several years. Speaking at an event in Austin, Texas, he mentioned that chip manufacturing is one of the most challenging technological fields globally. Currently, Musk is promoting collaboration among Tesla, SpaceX, and Intel to build the Terafab chip factory in Grimes, Texas. The project, with an initial investment exceeding $15 billion, is expected to create 3,000 jobs. The factory will be constructed in phases, covering approximately 3,000 acres, and will receive a $30 million grant from the Texas Enterprise Fund.
