Tesla Outpaces Nvidia and Alphabet in August as Musk’s $16.8 Billion Chip Complex Advances — BigGo Finance

Tesla shares have surged past some of the biggest names in technology this month, powered by fresh momentum behind Elon Musk’s ambitious semiconductor venture and the imminent opening of the company’s electric truck plant.

TSLA stock has climbed 12% over the past month, outpacing Alphabet’s 9% advance and Nvidia’s 3% gain, according to market data. The rally stands in contrast to Meta Platforms, which slipped 4%, and Apple, down 7%. Amazon matched Tesla’s 12% rise and edged it out, while Microsoft led the group with a 29% surge.

The catalyst for Tesla’s August run is Terafab AI, the semiconductor entity backed by Tesla and SpaceX that is taking shape in Grimes County, Texas. The project reached a milestone this week when Terafab signed a tax-value limitation agreement with the Anderson-Shiro Consolidated Independent School District, a deal posted by Texas officials following an application process completed in June.

Under the agreement, construction at the site is scheduled to run 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 the construction period, 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.

The planned 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. Musk’s 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. Futurum Equities Chief Market Strategist Shay Boloor noted that the project is “already becoming a major new driver of chip-equipment demand,” with Goldman incorporating its $16.8 billion first phase into forecasts. UBS estimates Terafab could generate $135 billion in chipmaking-equipment demand over five years, potentially making it a TSMC-scale buyer.

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.

SpaceX Stake Disclosure

In a separate development, SpaceX shares climbed 1% overnight heading into Tuesday after President Donald Trump disclosed an investment of as much as $50,000 in the company. Trump’s portfolio acquired between $15,001 and $50,000 of SpaceX shares on June 23, less than two weeks after the company’s record U.S. IPO valued it at $1.77 trillion.

The White House said Trump did not direct the purchase. Third-party financial institutions independently manage his portfolio by tracking “recognized indexes, such as the Schwab 1000.” The stake is notable since SpaceX is a major military contractor that depends on federal approvals for its expanding launch operations.

Last week, Trump ordered agencies to help lift annual U.S. launches and reentries above 1,000 by 2030. Faster permitting, additional launch sites, priority airspace and clearer range scheduling could all benefit SpaceX, the country’s dominant launch provider.

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 user wrote, “$TSLA Choppy today, but a breakout is coming later today imo.”

Despite the August rally, Tesla’s stock has lagged its “Magnificent Seven” peers this year, making it the group’s worst performer, down about 22%.