Elon Musk has outlined ambitious plans for a chip manufacturing collaboration involving his companies Tesla and SpaceX.

Musk shared the plans on Saturday night at an event in downtown Austin, Texas, according to Bloomberg.

A photo from the event suggests that the proposed “Terafab” facility would be located near Tesla’s Austin headquarters and its “Gigafactory.”

Musk said he is pursuing the project because semiconductor manufacturers are not producing chips fast enough to meet the artificial intelligence and robotics demands of his companies.

““We either build the Terafab or we don’t have the chips, and we need the chips, so we build the Terafab,” he said.

He added that the goal is to produce chips capable of supporting 100 to 200 gigawatts of computing power annually on Earth, as well as up to a terawatt in space.

Musk did not provide a timeline for the project.