Elon Musk confirmed that SpaceX plans to invest $55 billion (with a total projected outlay of $119 billion) to build a massive, next‑generation semiconductor fab—dubbed the “Terraab” chip facility—in Grimes County, Texas, near Houston. A public hearing on the project’s tax‑abatement agreement is set for June 3. The fab would produce cutting‑edge two‑nanometer chips for AI, robotics, Tesla’s Optimus robot, and future space‑based computing, with SpaceX leading the early build‑out and Tesla pursuing a separate research line with Intel support. Musk framed the move as essential to securing the chips Tesla and SpaceX need, echoing his habit of pursuing bold, high‑risk investments that could pay off enormously.
The news helped push Tesla’s stock toward $400 per share (≈ $1.25 trillion market cap). Separately, the SEC unveiled a proposal allowing public companies to report earnings twice a year instead of quarterly, aiming to give firms more long‑term focus while raising transparency concerns. In product news, a heavily camouflaged vehicle spotted at Giga Texas is widely believed to be a longer “Model Y L” (or XL) SUV. Tesla Semi demand is surging—one firm announced a 370‑truck, $100 million order, with deliveries starting in 2026 and full fleet by 2027—while another European carrier added 20 Semis.
Full‑Self‑Driving (FSD) software is advancing: European regulators (RDW) have approved FSD in the Netherlands, prompting other EU states to accelerate their reviews, and Tesla’s unsupervised robot‑taxi fleet grew from 36 to 38 vehicles in a short span, hinting at exponential growth. In Norway, the Model Y topped Q1 sales, with the Model 3 second, giving BEVs a 97.9 % market share. Tesla also announced a new in‑app certificate to verify repaired or replaced high‑voltage batteries, boosting resale confidence. Meanwhile, SpaceX’s Starlink service now delivers median download speeds > 100 Mbps in 49 states, positioning it as a mainstream broadband competitor, and Lucid reported a $1 billion Q1 2026 loss, signaling plans to cut production.
1. Elon Musk confirmed that SpaceX proposes a $55 billion investment to begin construction of a Tesla Terraab chip factory.
2. The Terraab facility is one of several locations under consideration for the world’s largest and most advanced chip fabrication plant.
3. The initial phase of the Terraab project is estimated at $55 billion, with total projected investment of $119 billion.
4. The project will be located in a SpaceX reinvestment zone at Gibbons Creek Reservoir and surrounding areas in Grimes County, Texas.
5. A public hearing to consider a property tax abatement agreement for the Terraab site is scheduled for June 3 at the Grimes County Justice and Business Center.
6. On the day of the announcement, Tesla stock rose about 2.5% to near $400 per share, giving Tesla a market capitalization of approximately $1.25 trillion.
7. The Texas Terraab facility is planned to produce advanced two‑nanometer chips for AI, robotics, Optimus, and future space‑based compute systems.
8. SpaceX is leading the early Terraab buildout, while Tesla is developing a separate research fab with Intel support.
9. Elon Musk stated, “We either build a terapab or we don’t have the chips.”
10. The SEC unveiled a proposal allowing public companies to report earnings twice a year instead of quarterly.
11. Under federal securities laws, public companies must provide material information to investors.
12. The SEC proposal aims to give companies flexibility in choosing their interim reporting frequency.
13. An unnamed EV announced deployment of 370 Tesla Semi trucks, the largest single electric‑truck deployment in California to date, valued at about $100 million.
14. The first 50 Tesla Semis are scheduled for delivery in 2026, with the full fleet expected by the end of 2027; charging infrastructure will also be built.
15. Nika Container Freight Line Inc. ordered 20 additional Tesla Semi trucks.
16. Tesla Full Self‑Driving (FSD) is progressing toward approval in parts of Belgium and is expected to receive approval in the Netherlands from the RDW, which may accelerate approvals elsewhere in Europe.
17. The RDW is presenting to EU countries on its FSD approval rationale.
18. The number of unsupervised Tesla robot taxis increased from 36 to 37 and then to 38 during the period covered by the video.
19. Tesla has the current capacity to produce about 2 million robot taxis per year using existing Model 3 and Model Y vehicles without additional modifications.
20. In Norway’s Q1, the Tesla Model Y was the best‑selling vehicle overall, and battery‑electric vehicles captured a 97.9% market share; the Tesla Model 3 ranked second.
21. Tesla FSD version V14.3 was reviewed by Chuck Cook, who described it as a solid build and noted that the performance bar has shifted to V15 for Robotaxi unsupervised capability.
22. Tesla is introducing an in‑app certificate that confirms when a high‑voltage battery has been repaired or replaced, intended to aid resale value and buyer confidence.
23. SpaceX’s Starlink service now delivers median download speeds exceeding 100 Mbps in every U.S. state except Alaska.
24. 44.7% of Starlink users meet the FCC’s broadband threshold of 100 Mbps download / 20 Mbps upload.
25. Starlink’s median upload speeds are more than 80% higher than those of its competitors.
26. Starlink projects to reach 100 million users within two years and 200 million users within four years.
27. Over 2,500 airplanes have Starlink installed as of a couple months ago.
28. Lucid reported a net loss of $1 billion for Q1 2026 and announced plans to adjust production.