Previously, when everyone looked at Terafab, there was at least some sense of “is Musk trying to take over everything himself again?” After all, advanced process nodes aren’t like building rockets, and spending money doesn’t automatically mean you can get it done.
The wind direction has changed a bit now: even TSMC is researching how to get involved.
Culpan’s take is that a more realistic option could be: TSMC builds the factories itself and operates them itself in Texas. SpaceX / Terafab would provide the funding, lock in long-term orders, and even hold shares together.
That is to say, Terafab may not ultimately really be “Musk himself making chips.” More likely, it becomes “Musk puts the demand and the money on the table and invites the best chip makers to do it.”