CEO Elon Musk is looking to consolidate his three flagship companies, Tesla, SpaceX, and xAI, into a new venture. Planned for the north campus of Tesla’s Giga Factory in Texas, his new project, called Terafab, will be a new semiconductor mega-factory that joins multiple AI chips under one roof.

Out of several Texas cities that made the final cut for Elon Musk's tunnel venture, only one will move forward—at least for now. The Boring Company announced shortly after midnight that the University Hills Loop in Dallas was selected as one of three winning proposals,