DRINDA Shares Surge Over 4% in Hong Kong Trading Following Musk's "Terafab" Project Announcement Targeting Over 1 Teraflop Annual Capacity

Stock News
03/23

DRINDA (02865) saw its shares rise more than 4% during early trading. At the time of writing, the stock was up 3.25%, trading at HKD 36.8 with a turnover of HKD 261 million. The movement follows news that Tesla's self-built chip factory, the "Terafab" project, is set to launch soon. On March 21 local time, Elon Musk stated on social media that the project aims to produce over 1 teraflop of computing capacity annually, with approximately 80% allocated for space applications and around 20% for terrestrial use. The Terafab initiative will be jointly operated by Tesla and SpaceX. Previously, Tesla had planned to invest approximately USD 2.9 billion to procure core equipment for producing photovoltaic cells and modules from China, as part of its strategy to advance integrated solar manufacturing within the United States.

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