Looms and weaving are not the same as knitting. Looms create fabric by passing threads over and under to create structure and patterns. Knitting is tiny little loops, interlocked. They are very different, and create fundamentally different fabrics. Knitting creates sweaters, hats, scarves…it’s a stretchy type fabric. Weavng creates fabric like denim - if you look at your jeans, you can see the over and under pattern. No loops. There are handlooms available that are computer-driven - they run about 20,000 USD for a basic one. You can also buy computerized knitting machines, but they are expensive, so to be able to build one for under 1000 USD is pretty impressive. Sounds like a cool and fun project to build one.