Elon Musk just told chip suppliers his Terafab wants to build roughly 30 times next year's entire global AI chip output. Terafab — the Tesla and SpaceX chip project in Texas — is targeting 1 terawatt of AI chips a year. The whole world is expected to make just 35 to 45 gigawatts next year. And it is already moving. Musk's procurement team made a secret trip to Japan this month, asking equipment makers to deliver within a few months. The scale is hard to overstate. Terafab has told suppliers it wants 1 million wafers a month by 2032 — 700,000 of them memory wafers, roughly equal to Samsung's entire DRAM capacity. The catch: none of this exists yet. The first test chips are due May or June 2027, mass production is targeted for late 2028, and one analyst says meaningful output may not arrive until 2030. The first phase alone costs $16.8 billion. But if Musk can cut chip iteration from a year to a month, as he claims the Austin research fab will do, the chip race stops being about who designs fastest — and starts being about who can build. BTC sits near $75,170, down about 0.8% on the day.