SpaceX says it will invest $74 billion into building data centers in Arizona, Texas

SpaceX announced Thursday that it will invest more than $74 billion into the construction of two data centers in Arizona and Texas, which the company argues will help boost local communities.

The company said it will allocate more than $24 billion to a new supercomputing facility at Starbase in the Rio Grande Valley in Texas. The investment expands on the $15 billion already spent on related infrastructure at Starbase. 

The new project will boost the community by generating more than 3,000 construction jobs and is expected to support more than 500 permanent jobs once operational.

“These investments will expand local tax bases, generate substantial new revenue for schools and public services, and create economic opportunities that extend far beyond the facilities themselves,” the company said in a news release. 

The second investment will construct a second supercomputing campus in Cochise County, Arizona. The project is expected to cost approximately $50 billion and will create approximately 5,500 construction jobs and 1,000 permanent jobs.

"Working with local electric cooperatives, the project aims to strengthen regional energy infrastructure, leverage existing renewable resources, and potentially reduce electricity bills for cooperative members by up to 20% while using dry cooling with no planned industrial groundwater consumption," SpaceX said of the Arizona project.

The investments come after SpaceX founder Elon Musk announced earlier this year that the company was creating a 100-million-square-foot facility that will include semiconductor manufacturing, power generation, an AI advanced computing campus, supporting power generation and a space compute test facility, among other projects.

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.