SpaceX is moving forward with plans to build at least one major data center in Texas, according to a report from The Information published Wednesday.
Space Exploration Technologies Corp., SPCX
The planned facility would target roughly 1 gigawatt of compute capacity. That would match or exceed SpaceX’s existing Memphis-area hub, where it currently operates two data centers.
The company has been scouting multiple potential sites across Texas in recent months. Options on the table include building new facilities from scratch and retrofitting an existing warehouse.
SpaceX has already begun moving some existing data center staff to Texas, a sign the expansion is further along than just early-stage planning.
SPCX stock was trading down 0.39% at $123.06 at the time of publication Wednesday. The broader Nasdaq was also lower, falling 0.31% on the day.
The Texas push comes after SpaceX signed AI computing contracts with Anthropic in May and Google in June. Those deals marked a deliberate move to monetize its AI infrastructure beyond its core launch and satellite businesses.
The company is also building an 11 million-square-foot “Gigasat” facility in Bastrop, Texas. That project is designed to manufacture orbiting AI data centers powered by solar energy, reducing dependence on ground-based power grids.
Investors are also watching reported talks with the Pentagon about providing compute capacity, which would add a government revenue stream to its growing AI business.
SpaceX gained 3% on Tuesday, snapping a seven-day losing streak, after announcing its first earnings report is set for August 4. That date matters beyond the financials.
The earnings report will trigger the first stage of SpaceX’s post-IPO lock-up release schedule. Up to 911.5 million shares, representing 20% of eligible locked-up stock, could become available for sale on August 6.
There’s an additional layer: if the stock closes at least 30% above its IPO price for five of the ten trading days before the report, another 10% of locked-up stock could also be released, per CNBC.
On the launch side, SpaceX is planning a Falcon 9 mission carrying 24 Starlink satellites after scrubbing the previous attempt. A Starship launch is also scheduled for Thursday following an engine ignition issue that caused an earlier abort.
SpaceX did not respond to a request for comment from Reuters on the Texas data center plans.
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