SpaceX Plans $24B Gas Plant and Super-Compute Site at Starbase
SPCX sits 35% above its 52-week low of $104.83.
Summary
SpaceX has applied for a property tax abatement on a roughly $24 billion gas-fired power plant and super-compute facility at Starbase, Texas, with the Starbase City Commission set to weigh the abatement and a related economic development agreement on December 9. The notice calls $24 billion the estimated capital investment for the initial phases, with more phases and expansions possible; SpaceX would build, own and operate the assets. Building its own generation lets SpaceX skip a years-long wait for a grid interconnection in Texas, which matters given the AI buildout behind its 161% Q3 revenue jump and ninefold AI revenue growth. The timing is awkward politically: voters rejected data center measures in 40 of 41 local ballots and Democrats, some campaigning on pausing new projects, took the US Congress and the Texas governor's office in the midterms. No abatement size, term, generating capacity or compute scale was disclosed. Watch the December 9 commission meeting for the abatement terms.
At the time of this announcement, SPCX was trading at $141.50 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.9T. The 52-week trading range was $104.83 to $225.64. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.