[key points]

Key points

• •Elon Musk plans to build a chip factory (Terafab) in Austin to reduce the dependence of tech giants on Asian chip manufacturers.
• •Terafab aims to internalize chip manufacturing for Tesla, SpaceX, and xAI, allowing for greater control over the supply chain.
• •The Terafab factory aims to produce chips on advanced nodes, thus competing with TSMC's capabilities.