Musk: The "Terafab" project will be jointly operated by Tesla and SpaceX and will be located in Austin.

Elon Musk held a press conference to announce Project Terafab, a grand plan aimed at eventually manufacturing its own chips for robotics, artificial intelligence, and space data centers. The project will be based in Austin and jointly operated by Tesla and SpaceX. Musk stated that he will first build an "advanced technology wafer fab" in Austin, equipped with the full suite of facilities needed to manufacture and test various types of chips. Musk said that although the semiconductor industry is increasing production, its pace of development is still not meeting his anticipated chip demand. "This pace is far below our expectations," Musk said. "Either we build a terawatt-scale factory, or we don't have any chips available, and we need these chips, so we're building a terawatt-scale factory." Musk's project aims to support 1 terawatt of computing power annually in the future. (Jiemian)