SpaceX and Tesla announce $16.8 billion first phase of Terafab chip plant in Texas

Tesla and SpaceX announced the first phase of Terafab, a semiconductor plant in Grimes County, Texas, with $16.8 billion of initial investment. The finished site will span more than 100 million square feet and is meant to supply chips for Tesla's robots and cars and for SpaceX's planned space-based data centers. The first phase is expected to create at least 3,000 jobs.

• Initial phase investment $16.8 billion, funded jointly by Tesla and SpaceX
• Site in Grimes County, about an hour northwest of Houston
• Future expansion phases would bring total investment much higher; no total stated
• Finished site more than 100 million square feet; at least 3,000 jobs