BREAKING: Elon Musk's TeraFab has officially advanced into the agreement phase in Texas.

Texas has just published a fully signed tax agreement for SpaceX’s TeraFab, moving the massive chip and advanced-computing factory another major step closer to construction.

A fully executed 34-page agreement between the Governor’s Office, Anderson-Shiro CISD and TeraFab AI was published today.

The agreement:

• Describes TeraFab as a next-generation, vertically integrated semiconductor manufacturing and advanced-computing facility • Lists a construction period from December 1, 2026, through December 31, 2028 • Establishes a 10-year tax-incentive period from 2029 through 2038 • Limits the qualifying property’s value for school district M&O taxes to zero during construction and 50% of market value during the incentive period • Requires a $12.98 million performance bond

Another major step toward bringing TeraFab to life in Texas.