马斯克：特斯拉与 SpaceX 将运营 Terafab 芯片工厂

Musk's move to manage TeraFab in-house while TSMC only leases space shifts the operational control entirely away from the foundry. This setup limits TSMC's direct stake and revenue share compared to a joint venture model. Does this mean TSMC's exposure to Tesla's AI supply chain is becoming purely financial rather than strategic, or are they avoiding integration complexities?