Tesla will open its Nevada Semi factory on Sept.24, with capacity to produce as many as 50,000 trucks annually.
- Terafab AI signed a Texas tax-value limitation agreement covering construction at its Grimes County site from December 2026 through 2028.
- Tesla and SpaceX plan to initially invest $16.8 billion in Terafab and create at least 3,000 jobs.
- Terafab would produce AI chips for Optimus, Cybercab and orbital data centers.
Shares of Tesla, Inc. (TSLA) have raced ahead of Nvidia and Alphabet so far this month, driven by fresh progress on CEO Elon Musk’s $16.8 billion Terafab chip complex and the approaching opening of Tesla’s Semi factory.
TSLA stock has gained 12% over the past month, outperforming GOOG’s 9% rise and NVDA’s 3% gain, while META and AAPL have declined 4% and 7%, respectively. However, Tesla has trailed AMZN, which also rose 12% but edged it out, and MSFT, which surged 29%.
Terafab Secures Texas Tax Agreement
Terafab AI, the entity behind the semiconductor project planned by Tesla and SpaceX, has signed a tax-value limitation agreement with Anderson-Shiro Consolidated Independent School District. Texas posted the agreement Tuesday following an application process completed in June.
Construction at the Grimes County site is scheduled from Dec. 1 through Dec. 31, 2028. Eligible property would receive a zero taxable value for the school district’s maintenance-and-operations taxes during construction, followed by a value equal to 50% of market value from 2029 through 2038.
The agreement sets minimum requirements of $20 million in investment and 10 qualifying jobs. Tesla and SpaceX, however, plan to initially invest $16.8 billion and employ at least 3,000 people. A May filing outlined a potential $55 billion initial buildout and up to $119 billion if additional phases are completed.
Tesla, SpaceX Build AI Chip Supply
The 100-million-square-foot facility would manufacture, package and test advanced logic and memory chips under one roof. Tesla is expected to lead research and prototyping, while SpaceX oversees high-volume production.
The chips would power Tesla’s Optimus robots and Cybercabs, along with SpaceX and xAI’s planned orbital data centers. The companies expect to require more than one terawatt of computing power in the coming years.
SpaceX partnered with Intel earlier this year, with the facility expected to use Intel’s 14A technology. Tesla also broke ground in April on a chip-research facility at Giga Texas that will serve as a precursor to TeraFab. The Texas site plans to draw industrial water from Gibbons Creek Reservoir and use on-site natural-gas plants and large battery arrays for power.
TeraFab is already influencing chip-equipment forecasts. Goldman Sachs expects global wafer-fabrication equipment spending to hit $150 billion in 2026, $218 billion in 2027 and $281 billion in 2028, led initially by AI memory and advanced foundries.
Tesla Prepares Nevada Semi Factory Opening
Meanwhile, Tesla will open its 1.7-million-square-foot Semi factory in Nevada on Sept.24, nearly five months after its first truck left the high-volume line. Musk said mass production began in July but warned that the initial ramp would be “very slow.”
The plant can produce up to 50,000 trucks annually. Tesla’s 325-mile and 500-mile models cost about $260,000 and $290,000, respectively, while its Megacharger can reportedly restore 70% of range in 30 minutes.
Tesla recently secured a 500-truck order from Einride, adding to WattEV’s 370-unit order and Big F Transport’s 40-unit purchase. The Semi also accounted for 965 of 1,067 applications to California’s clean-truck incentive program. However, publicly announced orders total only around 1,500 units, which is less than four days of output at full capacity. Tesla will disclose European specifications and rollout details at Germany’s IAA Transportation show from Sept. 15 to Sept. 20.
How Do Retail Traders Feel About TSLA?
On Stocktwits, retail sentiment for TSLA jumped to ‘bullish’ from ‘neutral’ levels a day ago amid an 8% rise in 24-hour message volumes.
One bullish user said, “$TSLA Choppy today, but a breakout is coming later today imo.”
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Another user said, “$TSLA tomorrow if we open and hold above 350 its a high chance its going to back to 358 to 360 test”
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So far this year, Tesla’s stock has lagged its “Magnificent Seven” peers, making it the group’s worst performer, down about 22%.
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