TLDR
- SpaceX plans over $74 billion for AI campuses in Starbase, Texas and Cochise County, Arizona.
- The stock traded at $143.82 on Thursday, up 2.91%.
- The AI segment brought in more than half of Q3 revenue.
- Arizona needs county approval, and a December hearing is set.
- Starship Flight 15 is scheduled for Friday.
SpaceX (SPCX) stock traded at $143.82 on Thursday, up 2.91% in midday action. The move came as the company laid out plans for more than $74 billion in AI campuses.
Space Exploration Technologies Corp., SPCX
The money will go into two supercomputing sites, one at Starbase in Texas and one in Cochise County, Arizona. SpaceX said the plan pushes its AI computing business well beyond rockets and satellites.
Starbase would get more than $24 billion. The Arizona campus would get roughly $50 billion.
The AI segment already pulls its weight. It produced more than half of SpaceX’s third-quarter revenue.
Total quarterly revenue hit $14.57 billion, up 161.4% from a year earlier. EPS came in at $0.35 against a $0.10 consensus estimate.
What Texas and Arizona Would Get
In Arizona, SpaceX expects about 5,500 construction jobs and 1,000 permanent roles. The campus still needs approval from Cochise County.
The company said it is working with local electric cooperatives. It said the project could cut bills for co-op members by up to 20%.
SpaceX also said the campus would use dry cooling. No industrial groundwater use is planned.
Texas is further along. SpaceX said the Starbase project has already created more than 3,000 construction jobs and would support over 500 permanent ones.
Starbase would make its own electricity instead of using the public grid. A city notice this week showed plans for a gas-fired power plant and supercomputing site on about 444 acres.
Local Votes Still Ahead
The Arizona plan has pushback. A petition with 2,400 signatures asks officials to deny the permit.
A county public hearing is set for December. The Starbase City Commission will weigh a property tax abatement on December 9.
On Wall Street, the stock opened Thursday at $139.75. Its 52-week range runs from $104.83 to $225.64, and its 50-day moving average sits at $149.13.
Market value stands near $1.90 trillion. Analysts carry a Moderate Buy consensus with an average price target of $243.60.
Filings show Three Bridge Wealth Advisors opened a new stake worth about $50.1 million in the third quarter. COO Gwynne Shotwell sold about $52.5 million of stock on September 22 at an average $153.57, under a pre-arranged plan.
The FCC also accepted SpaceX’s application for 546 spectrum licenses in an $8 billion deal. The deal still needs regulatory approval.
Next up is Starship Flight 15 on Friday. SpaceX plans to catch both rocket stages with its launch tower, a first for the company.
