Support Now From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging. At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story. The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it. Your support makes all the difference. Read more Elon Musk's SpaceX has proposed an initial $55 billion investment to build a semiconductor manufacturing facility, called Terafab, in Texas, according to a filing made public on Wednesday. The facility, a joint project with Tesla, ​comes as Musk seeks to secure in-house access to advanced chips, though analysts say ​the scale of capacity he has outlined would likely require far greater investment. SpaceX ⁠is also targeting a June IPO that could value the company at around $1.75 trillion. Musk has been ​tightening integration of AI efforts across his companies, with SpaceX acquiring his startup xAI earlier this year ​in a deal focused on building space-based data centers for artificial intelligence processing. The combined entity was valued at $1.25 trillion. The facility, a joint project with Tesla, ​comes as Musk seeks to secure in-house access to advanced chips, though analysts say ​the scale of capacity he has outlined would likely require far greater investment (Reuters) The Terafab project would involve a multi-phase chip fabrication and advanced computing complex aimed at boosting domestic semiconductor production in the ​United States. SpaceX estimates the total investment could rise to $119 billion if additional phases are completed. The facility ​is planned in Grimes County within a newly designated reinvestment zone, where local officials are expected to consider a ‌property tax abatement agreement at a June meeting. The proposed facility could help reduce reliance on external suppliers such as Samsung and Taiwan Semiconductor Manufacturing Co. SpaceX flagged plans to "manufacture our own GPUs" as part of "substantial capital expenditures" outlined in its S-1 registration, according to excerpts reviewed by Reuters. The filing also highlighted risks ​around supply, noting the ​company lacks long-term contracts ⁠with many direct chip suppliers and will continue to rely significantly on third parties. SpaceX added that there is no assurance it will meet its ​Terafab objectives within expected timelines, or at all. The plan aligns with a ​broader U.S. push ⁠to expand domestic semiconductor manufacturing amid geopolitical tensions and supply chain risks. Signaling efforts to bring in external manufacturing expertise, Musk said last month in Tesla's first-quarter earnings call that the Terafab will use chipmaker Intel's 14a process to produce chips. Monitor your credit scores effortlessly. Create an account today.