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

Musk held a press conference on the "Terafab" project, stating that this ambitious plan aims to ultimately manufacture proprietary chips for robots, artificial intelligence, and space data centers in Austin, and will be jointly operated by Tesla and SpaceX.

Musk indicated that he will first establish an "advanced technology wafer fab" in Austin, which will be equipped with a full set of equipment necessary for manufacturing and testing various chips. Musk stated that although the semiconductor industry is increasing production, its growth rate still cannot meet his expected chip demand. "This pace is far below our expectations," Musk said. "Either we build a 'terawatt factory,' or we have no chips available, and we need these chips, so we are going to build a 'terawatt factory.'" Musk's project aims to support 1 terawatt of computing power annually in the future.