Space Exploration Technologies Corp.

(NASDAQ:SPCX) and Tesla Inc.

(NASDAQ:TSLA) CEO Elon Musk's Terafab semiconductor manufacturing facility will become the world's largest building by floor area once completed.

Five Times Larger Than Current Record-Holder According to a Fortune report on Monday, Tesla and SpaceX will be breaking ground on the semiconductor facility in Grimes County, Texas, which will dwarf the world's current largest building.

Read Also: Tesla Burns Through Funds Allocated for Gavin Newsom’s EV Rebate Within Days—California Governor Hails Clean Energy Bet The New Century Global Center in Chengdu, China, is at 18.9 million square feet and holds the record for the largest building in the world, according to the World Atlas data cited in the report.