Musk: Terafab project is jointly operated by Tesla and SpaceX and will be based in Austin

Musk held a press conference on the "Terafab" project, saying that the ambitious plan to eventually make its own chips for robots, artificial intelligence and space data centers will be based in Austin and jointly operated by Tesla and SpaceX. Musk said he would first build an "advanced technology wafer factory" in Austin, which would be equipped with the complete equipment needed to make and test various types of chips. Musk said that although the semiconductor industry is increasing production, its growth rate is still not enough to meet the chip demand he expects. "This speed is much lower than our expectations," Musk said. "Either we build a 'terawatt factory', or we don't have chips available, and we need these chips, so we have to build a' terawatt factory'." Musk's project goal is to support 1 terawatt of computing power per year in the future.