Elon Musk's SpaceX has proposed an initial $55 billion investment to build a semiconductor manufacturing facility, called Terafab, in Texas , according to a filing made public on Wednesday.

The facility, a joint project with Tesla, ​comes as Musk seeks to secure in-house access to advanced chips, though analysts say ​the scale of capacity he has outlined would likely require far greater investment.

SpaceX ⁠is also targeting a June IPO that could value the company at around $1.75 trillion. Musk has been ​tightening integration of AI efforts across his companies, with SpaceX acquiring his startup xAI earlier this year ​in a deal focused on building space-based data centers for artificial intelligence processing.…