SpaceX wins Texas county approval for reinvestment zone tied to Terafab chip facility

SpaceX won approval for a reinvestment zone in Texas on Wednesday ‌despite fierce opposition ⁠from ⁠residents, clearing a key hurdle for a proposed $119 billion Terafab semiconductor manufacturing complex.

The project is central ​to SpaceX's efforts to expand beyond rockets and satellite communications into advanced ​computing infrastructure and domestic chip ⁠production - ambitions ‌that investors view as a ​major ​pillar of the company's ⁠future growth.

This month, SpaceX is expected to launch what could become the largest IPO in history, with investors closely scrutinizing whether the company can translate its dominance in space into new markets tied to AI and ‌semiconductor manufacturing.


The company plans to fix its IPO price ​at $135 per ​share to raise ⁠a record-setting $75 billion, a source familiar with the matter told Reuters on Tuesday. SpaceX ​plans to target a valuation of $1.75 trillion in its blockbuster initial public offering.