Musk stated at the "X Takeover" event on Saturday local time that despite currently having "no idea how to make microchips," he believes his companies will eventually surpass all competitors to produce "better chips than anyone else." The Terrafab chip factory project is a joint venture between Tesla, SpaceX, and Intel, with an initial investment exceeding $15 billion. It is located in Grimes, Texas. The factory will have a total building area of 100 million square feet, cover approximately 3,000 acres, and is expected to create 3,000 jobs. It has already received $30 million in subsidy support from the Texas Enterprise Fund. Musk emphasized that his experience in customized equipment manufacturing is the core confidence for surpassing competitors.