00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Elon Musk's planned TeraFab chip manufacturing complex in East Texas
00:07could cost at least $55 billion for the first phase
00:11and as much as $119 billion for the full build-out, according to CNBC.
00:16SpaceX is seeking a property tax abatement agreement
00:20ahead of a June 3rd public hearing,
00:23according to a public hearing notice filed Wednesday in Grimes County, Texas.
00:27Musk launched the project in March
00:29and said the facility would manufacture chips for SpaceX, XAI, and Tesla.
00:34Intel joined the project in April to help design, fabricate, and package chips at scale.
00:39Musk said Tesla plans to use Intel's upcoming 14A process at the facility.
00:44He also said SpaceX will fund the initial scaled-up phase of the TeraFab project,
00:48while Tesla builds a separate $3 billion research fab in Austin
00:52capable of producing a few thousand wafers per month.
00:55For all things money, visit Benzinga.com.
Comments