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.