Elon Musk says his companies may have found a better method for chip manufacturing.

Musk stated that given his companies' expertise in manufacturing custom equipment, he believes they are likely to "find a better way to make chips than anyone else." Speaking to a group of customers and investors outside the Tesla Gigafactory in Austin, Texas, Musk said that although he currently "doesn't know how to make microchips, we will figure it out." During his livestream appearance at the X Takeover event on Saturday, he noted that while visiting competitor facilities, he didn't see much custom equipment, whereas he said his own companies have extensive experience in making such equipment, enabling them to improve the manufacturing process. Musk said, "I think it's fair to say this is one of the hardest things in the world to do." "I don't want to come across as complacent or take it for granted, but I think we are very likely to find a better way to make chips than anyone else. Honestly. I don't know how long it will take. It could take several years."