Space Exploration Technologies Corp (NASDAQ:SPCX) stock traded lower on Wednesday as risk appetite cools in growth-leaning names and traders rotate toward more defensive pockets of the market. The Nasdaq is down 0.31% while the S&P 500 has shed 0.13%.
SpaceX is drawing investor attention as it expands AI computing ambitions, prepares for a major share unlock, and works through key launch delays.
SpaceXAI Aims to Expand Computing Power
SpaceXAI is laying the groundwork for a large terrestrial data center in Texas as it looks to scale AI computing beyond its current Memphis hub. The company is evaluating sites for a facility expected to match or exceed 1 gigawatt of capacity, including new construction and potential warehouse retrofits, the Information reported on Wednesday.
SpaceX is also building an 11 million-square-foot "Gigasat" facility in Bastrop, Texas, to manufacture orbiting AI data centers. The project aims to use solar-powered space-based compute to reduce reliance on terrestrial power capacity.
