SpaceX CEO Elon Musk on Saturday praised ASML Holding NV (NASDAQ:ASML) as arguably one of the best companies in Europe ahead of his appearance at the company’s annual tech conference next Thursday.
Musk To Join ASML CEO For A Virtual Discussion
According to a Business Insider report, Musk will join ASML CEO Christophe Fouquet for a virtual discussion at the chip equipment maker’s conference in the coming week.
The event, which is exclusive to ASML employees and partners, will feature Musk sharing insights on AI, robotics, space, and semiconductor manufacturing, including the Terafab concept.
“ASML should be treasured and supported. It is arguably the greatest company in Europe,” Musk said in a post on X.
The Terafab Collaboration
The Terafab, a collaboration between SpaceX, Tesla Inc. (NASDAQ:TSLA), and Intel Corp. (NASDAQ:INTC), aims to build vast semiconductor factories.
ASML, based in the Netherlands, plays a crucial role in this vision as it produces extreme ultraviolet lithography machines essential for advanced semiconductor production. The conference precedes SpaceX’s public debut at a potential valuation of $1.75 trillion.
Much of SpaceX’s valuation hinges on plans to create up to a million orbital data centers, requiring a significant supply of in-house chips from Terafab. ASML CEO Fouquet previously mentioned that SpaceX’s goals could lead to semiconductor supply challenges.
Musk Highlights Terafab’s Revenue Potential
The Terafab project is poised to become a major revenue driver for Grimes County, as Musk highlighted its potential to significantly boost local tax revenues. Musk emphasized that the facility could become the largest source of revenue for the county, surpassing all current earnings.
Additionally, SpaceX’s upcoming IPO is generating significant interest, with the potential to raise an extra $11.25 billion if underwriters fully exercise their options. This demand could expedite SpaceX’s inclusion in major indices like the Nasdaq 100 and S&P 500.
Musk’s ambitious plans for Terafab include a potential investment of up to $119 billion. This investment is seen as necessary to keep pace with the rapid advancements in AI, robotics, and space exploration, as Musk believes the global chip industry is lagging.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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