SpaceX has added new language to its IPO filing that warns prospective investors about the company’s access to a potentially scarce resource: water.
The company, which now includes Elon Musk’s AI play, xAI, wrote in an amended version of the filing on Monday that access to water — required to cool its data centers — is just as important as SpaceX’s ability to secure power, processors, and other critical resources.
The addition comes amid an ever-evolving debate about how much water data centers use, and whether that usage is contributing to localized droughts that are being made worse by climate change.
Deep in the “risk factors” section of SpaceX’s IPO filing, the company added language about water to a section about the challenges of scaling AI infrastructure.
Previously, SpaceX focused on telling investors that its data centers were primarily constrained by access to “power at economically feasible prices,” along with long construction timelines and material shortages. The amended filing adds multiple lines about water access. SpaceX now tells prospective investors in the IPO that data center buildouts are constrained by the “availability of power and water at economically feasible prices.”
