Dan Caplinger

There is, but I think the thing you have to remember is when it comes to Elon Musk, Musk is going to look after Musk's own companies first.

I think that the whole purpose of this, regardless of talking about overall industry capacity, regardless of saying, hey, there might be an opportunity for us to make a contribution to the industry writ large, really, I think the TerraFab vision is about

helping SpaceX, helping XAI, helping Tesla to do what they need to do, to build Optimus robots, to make massive launches of goods and services into orbit to further Mars missions.

Solar power capacity for space-based data centers.

even the chips necessary to get all the way to full self-driving, which we're still waiting for on Tesla.

That is the first and foremost there.

Because the trend was always for Musk to try to vertically integrate that, I don't think that Taiwan Semi or any of the other chip fabs really need to be terribly worried about this because from a long-term standpoint, it was going to happen anyway.

It is, but I think that Tesla in particular, and Musk more generally, has generally been pretty good about adapting to changing market conditions.

The example I'd throw out is Supercharger.

I think at some point, Musk would have thought that Supercharger was going to need to compete

against other third-party charging infrastructure, but the fact is that the third-party charging infrastructure just has never come close to matching what the supercharger network was.

Given that opportunity, given excess capacity in the supercharger network, given excess capacity and demand from the rest of the EV world,

Tesla saw an opportunity, Musk saw an opportunity opening up, essentially, the supercharger network to these third parties.

And I could see the same thing happening here.

I think the question you raise is, Travis, is Musk going to get the timing right?

Or is he going to make these supply agreements too late?

There's a lot in the air right now.

And it's going to take three or four years even for this project even to come close to completion, let alone getting up to capacity.

So you're right.

The timeline is going to be important.