Texas extended SpaceX a $30 million Texas Enterprise Fund grant according to Abbott’s press release
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“Texas is where big ideas grow even bigger,” the governor said in the release.
Key facts
SpaceX went public in June, raising $75 billion by selling 555.56 million shares at $135 apiece
SpaceX reported a $541 million loss in its first quarterly earnings report as a public company, despite generating $7.8 billion in revenue
But Terafab is expected to exceed that quickly: “The first phase of the Terafab project represents a capital investment of more than $16.8 billion and will create 3,000 new jobs,” Texas Gov
The Terafab website compares the planned 100 million square feet with Tesla’s roughly 10-million-square-foot Gigafactory Texas and says the facility is designed around production at “terawatt scale
Summary
Elon Musk is betting that the next phase of his sprawling technology empire will require a building on a scale that has never existed before. “Terafab Texas will be the largest and most valuable building on Earth by far. With about 18.9 million square feet of floor space, the New Century Global Center in Chengdu, China, currently holds the record for the world’s largest building. The accompanying vision is even more ambitious than the building itself. “We’re now embarking on the most epic chip-building effort—combining logic, memory, and advanced packaging all under one roof,” said Musk in a press release.