An entity connected to Elon Musk has recently purchased property in a rural area outside Houston, Texas, suggesting the billionaire may be finalizing a location for a planned $55 billion semiconductor facility. The project is supported by both SpaceX and Tesla Motors (ASX: TSLA).
Key Details of the Acquisition
Property records indicate that a company named WIT Tech LLC has bought at least six parcels of land in Grimes County. The total area exceeds 6,000 acres, equivalent to approximately 10 square miles. The financial terms of these transactions were not disclosed.
Connections to Musk's Operations
While Musk's name does not appear directly on the filings, the most recent annual report for WIT Tech filed with the Wyoming Secretary of State was signed by Jared Birchall. Birchall is a key lieutenant for Elon Musk. Furthermore, the limited liability company lists a mailing address in Palo Alto, California, which is the same office location as xAI, a subsidiary of SpaceX. Additional real estate transaction documents in Texas show that James Burnham, the General Counsel for xAI, is an authorized representative for WIT Tech.
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