SpaceX is moving forward with plans to build new AI data centers in Texas, extending its growing infrastructure beyond its existing sites in Memphis, Tennessee. Wedbush Securities analyst Matt Bryson highlighted this expansion in a recent note, confirming strong demand for components linked to SpaceX’s data center projects well into 2027 and beyond.
The company currently operates Colossus data centers in Memphis. The first, Colossus 1, opened in July 2024 after a swift four-month construction period. Development of Colossus 2 started in March 2025, with a third facility already underway. This rapid growth in AI compute capacity is supported by SpaceX's acquisition of a large warehouse in Mississippi in 2025, signaling a broadening footprint in the region.
Component Demand and Industry Impact
Bryson noted that while SpaceX has a history of preparing for higher-scale projects than those that materialize, the current sourcing activity for AI infrastructure components points to genuine expansion. There was talk of a $52 billion server order with Foxconn linked to SpaceXAI, though Elon Musk dismissed that figure as "fake news." Despite skepticism about the exact numbers, Wedbush views the underlying demand for AI compute power as real and growing.
This buildout benefits Nvidia, a key player in the AI chip and server market. Large data centers require advanced processors and supporting hardware, and SpaceX’s expansion aligns with Nvidia’s recent gains in infrastructure spending. After news of the Texas data center plans, Nvidia’s stock dipped slightly by 1.56%, while SpaceX’s shares were mostly flat in premarket trading.
SpaceX will report its Q2 earnings on August 4, the first quarterly result since going public. Wall Street anticipates revenue near $6.93 billion and a loss of $0.22 per share, compared to $4.7 billion revenue and a $1.27 per share loss in Q1. Any remarks from Elon Musk about AI investments or data center timelines during the earnings call will be closely scrutinized by investors.
