Jim Chanos is not impressed with Elon Musk’s latest pitch to Tesla Inc. (NASDAQ:TSLA) shareholders.
The $13 Trillion Number
Musk’s lieutenants have been hitting up chipmaking equipment suppliers including Applied Materials, Lam Research and Tokyo Electron for price quotes on gear for Terafab, the joint venture between Tesla and SpaceX.
Bernstein analysts estimate the project could eventually require between $5 trillion and $13 trillion in capital spending.
That caught the eye of Chanos, a long-time Tesla bear. “Time for another narrative change at $TSLA,” the short-seller posted on X. “Who needs FSD and Robotaxis when you can spend $5-13T on AI chip fabs?! That’s only 16-40% of US GDP.”
US GDP was roughly $30 trillion in 2025.
Chanos Is Betting Against A Bubble Traders Do Not See Bursting
Chanos has been warning about the AI capex cycle for months.
In December, the short-seller argued that GPUs depreciate over three years …
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