Elon Musk says Tesla and SpaceX will build their own chip factories in Texas

Elon Musk announced that his companies, Tesla and SpaceX, plan to build their own advanced semiconductor factories in Austin, Texas. The project, called Terafab, aims to produce a massive amount of computing power annually for their own artificial intelligence and other needs.

Musk also offered to pay the salaries of U.S. airport security staff amid a political funding standoff that threatened a government shutdown. Separately, Tesla's vice president of finance, Sendil Palani, announced he is leaving the company.