Elon Musk plans $74 billion for data centers
SpaceX will invest $24 billion in Texas and $50 billion in Arizona.
The short version
- The Texas site will generate its own power.
- The Arizona project will create 5,500 construction jobs.
Elon Musk is pouring more money into the artificial intelligence race. SpaceX announced plans to invest $74 billion to build new data center campuses in Texas and Arizona. The projects would rank among the largest data center developments in the United States.
In Texas, the company plans to spend $24 billion on a campus near the Starbase rocket site in the Rio Grande Valley. That data center will generate its own power instead of using the public grid. In Arizona, SpaceX plans a $50 billion campus in Cochise County that will create 5,500 construction jobs and 1,000 permanent jobs.
That project still needs county approval. SpaceX has grown its business by leasing computing power to other artificial intelligence companies like Anthropic and Google. Anthropic committed to paying up to $120.5 billion through 2029, and Google pays $920 million per month.
SpaceX reported that capital expenditures rose to $19.6 billion during the third quarter, nearly triple the previous year. The company also closed $40 billion in debt financing to fund chips for its data centers, according to The New York Times.
About Elon Musk
American businessman (born 1971)
- Net worth
- $790 billion2026
- Age
- 55
From Wikipedia. Figures can be a year or two old.
Figures as reported by The New York Times.
