SpaceX plans $74 billion supercomputing campuses
Key points
- SpaceX (NASDAQ:SPCX) announced plans to invest more than $74 billion in two supercomputing campuses in Texas and Arizona.
- The company plans to invest $24 billion at its Starbase, Texas, site and approximately $50 billion in Cochise County, Arizona.
- The Arizona project is expected to create approximately 5,500 construction jobs and 1,000 permanent positions, subject to county approval.
SpaceX (NASDAQ:SPCX) announced plans to invest more than $74 billion in two supercomputing campuses in Texas and Arizona, expanding its computing infrastructure.
The investment includes approximately $24 billion for a facility at Starbase, Texas, and roughly $50 billion for a second campus in Cochise County, Arizona.
The proposed Arizona campus is expected to create approximately 5,500 construction jobs and 1,000 permanent positions, although the project still requires Cochise County approval.
The Starbase facility will generate its own electricity rather than rely on the public power grid, while the Arizona development will work with local electric cooperatives to meet its energy requirements.
Following the announcement, SpaceX shares were up approximately 2.7% at $143.53 in the available November 12 trading snapshot.
The Starbase project has already generated more than 3,000 construction jobs, with SpaceX expecting the facility to support more than 500 permanent positions once operational.
SpaceX also committed $220 million toward water and wastewater infrastructure in Brownsville and Cameron County, including plans to add approximately 20 million gallons of daily water capacity from sources independent of the Rio Grande River.
