Tesla and SpaceX to Build 2nm Fab in Austin, Sagespring Boosts Stake
Sagespring Wealth Partners boosted its Tesla holding by 9.6%, adding 3,378 shares to reach 38,663. Elon Musk unveiled a Tesla-SpaceX 2nm chip fab in Austin for 100–200GW Earth and terawatt space computing, while Rivian’s R2 SUV aims to challenge Model Y by 2029.
1. Sagespring Increases Position
Sagespring Wealth Partners LLC grew its Tesla holdings by 9.6%, purchasing an additional 3,378 shares to hold 38,663 in total. This move signals heightened institutional confidence in Tesla’s EV leadership and energy initiatives, potentially influencing market sentiment and underlining bullish investor outlook on Tesla’s long-term growth.
2. Musk Announces Joint Tesla-SpaceX Chip Fab
Elon Musk revealed plans for an advanced technology fab near Tesla’s Austin gigafactory, to be jointly operated by Tesla and SpaceX. The facility aims to produce 2nm chips capable of supporting 100–200GW of computing power on Earth and scaling to a terawatt in space, though no timeline was specified.
3. Rivian’s R2 SUV Eyes Model Y
Rivian’s upcoming R2 SUV is projected to unseat Tesla’s Model Y dominance by 2029 through competitive pricing and expanded production capacity. Industry forecasts suggest the R2 could capture a significant share of the EV SUV market, intensifying competition in one of Tesla’s most lucrative segments.