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Judge Rejects Elon Musk’s Bid to Move SEC Lawsuit From Washington to Texas

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A U.S. federal judge has denied Elon Musk’s request to move a Securities and Exchange Commission (SEC) lawsuit from Washington, D.C. to Texas, rejecting his claim that the capital’s court location was overly burdensome given his packed schedule.

Judge Sparkle Sooknanan ruled on Thursday that while she acknowledges Musk’s demanding workload, his “considerable means” and frequent travel make Washington an appropriate venue. She also noted that Musk spends at least 40% of his time outside Texas, including significant periods in the capital, where he recently led the Department of Government Efficiency.

The judge emphasized that Texas courts face heavier caseloads, while her court could handle the matter with “reasonable alacrity.” Musk’s argument centered on his claim that he works 80 or more hours per week, often sleeping at his office or factories, and that defending himself in Washington would cause “substantial burdens.”

The SEC lawsuit, filed in January, accuses Musk of failing to timely disclose his acquisition of a 5% stake in Twitter (now X) in early 2022. The 11-day delay, according to the SEC, allowed him to buy over $500 million worth of shares at artificially low prices, saving him an estimated $150 million. The agency seeks a civil fine and the forfeiture of those gains, while Musk is attempting to have the case dismissed.

Musk, whose fortune reportedly surpassed $500 billion this week, resides in Austin, Texas, where his major companies—Tesla, SpaceX, and The Boring Company—are headquartered. He had also proposed moving the case to Manhattan, where former Twitter shareholders have filed a related lawsuit, but that request was likewise denied.

The case, titled SEC v. Musk, will proceed in the U.S. District Court for the District of Columbia under docket number 25-00105, setting the stage for another high-profile courtroom battle involving one of the world’s most controversial billionaires.

Texas Instruments to Invest $60 Billion in U.S. Chip Manufacturing Amid Political Pressure

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Texas Instruments (TI) announced plans on Wednesday to invest over $60 billion to expand its semiconductor manufacturing facilities in the United States. This move comes amid ongoing pressure from the Trump administration to reshore the country’s semiconductor supply chain.

The Biden administration finalized a $1.61 billion subsidy for TI in December to support the construction of three new facilities, part of the broader $52.7 billion CHIPS and Science Act. TI’s investment plan includes building or expanding seven chip-making plants across Texas and Utah, with two new sites planned in Sherman, Texas. The company said this investment would create 60,000 jobs, calling it the largest foundational semiconductor manufacturing investment in U.S. history.

TI expects to spend up to $40 billion on its Sherman operations and approximately $21 billion on facilities in Utah and other parts of Texas. While no exact timeline was provided, TI confirmed its long-term capital expenditure plans remain unchanged.

Unlike AI-focused chipmakers Nvidia and AMD, TI specializes in analog chips used in everyday electronics such as smartphones, cars, and medical devices. This gives TI a broad client base, including Apple, SpaceX, and Ford.

The $60 billion investment follows similar announcements from other semiconductor companies. For example, Micron recently revealed it would increase its U.S. investment by $30 billion, bringing its total planned spending to $200 billion.

Some analysts interpret these spending announcements as efforts to gain favor with former President Donald Trump, who has threatened to block the CHIPS Act funding and impose tariffs on semiconductor imports.

U.S. Commerce Secretary Howard Lutnick praised the investment, stating it would support “foundational semiconductors that go into the electronics people use every day” and sustain U.S. chip manufacturing for decades.

TI’s announcement also includes previously allocated funds for facilities already under construction or scaling up production.

Taiwan’s Pegatron Nears Decision on U.S. Factory Plan Amid AI Server Production Needs

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Pegatron, a major Taiwanese supplier for Apple and Dell, is in the final phase of evaluating plans for a new factory in the United States, with a decision expected by this or next month, company president and CEO Kuang-Chih Cheng said on Friday.

Key factors influencing the site selection include land and labor costs, with electricity availability being especially critical due to the factory’s focus on artificial intelligence (AI) server production, Cheng told reporters during the company’s annual shareholders’ meeting.

When asked about possible locations, Cheng noted that Pegatron’s considerations are similar to those of peers and competitors, many of whom are looking at U.S. states like Texas, where Taiwanese manufacturers Foxconn, Inventec, and Wistron have recently announced expansion plans.

Pegatron has been actively diversifying its manufacturing footprint away from China since the Trump administration began imposing trade restrictions, expanding operations in Southeast Asia and Mexico. The company already maintains a repair base in Indiana and an office in California.

Additionally, Pegatron started developing an AI server production line in Mexico last year, with mass production slated to begin in the third quarter.