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SpaceX, Tesla Propose $55 Billion Semiconductor Plant in Texas

GateNews
Stocks
According to Reuters, SpaceX and Tesla have proposed a US$55 billion semiconductor manufacturing facility in Grimes County, Texas, called Terafab. Total spending could reach US$119 billion if all planned phases proceed. The chip fabrication and advanced computing complex aims to reduce reliance on suppliers such as Samsung and TSMC as the U.S. expands domestic chip production amid geopolitical and supply chain risks. Local officials are expected to review property tax abatement for the site in June.
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