SpaceX secures Texas reinvestment zone for $119 billion Terafab plant
Business
SpaceX just scored approval for a Texas reinvestment zone tied to its proposed $119 billion Terafab semiconductor plant in Texas, a big move as the company branches out from rockets into advanced computing infrastructure and domestic chip production.
The project is set to bring thousands of jobs and a boost for the local economy, even though some residents pushed back.
SpaceX IPO expected at $135
This milestone comes right before SpaceX's much-hyped IPO later this month, where shares are expected to be priced at $135.
The company hopes to raise $75 billion and hit a $1.75 trillion valuation.
Investors are watching closely to see if SpaceX can turn its space success into wins in chips and AI too.