SpaceX plans more than $74 billion for two AI supercomputing campuses

SpaceX built its name launching rockets. Its latest spending plan is aimed at something far more earthbound: servers.

The company said it plans to invest more than $74 billion across two artificial intelligence supercomputing campuses. Around $24 billion is slated for Starbase, its Texas headquarters. About $50 billion is headed to a second campus in Cochise County, Arizona.

The announcement came on November 12, 2026. The timing matters because AI is no longer a side project at SpaceX. It is reportedly where most of the money comes from.

Two campuses, two very different designs

The Texas project is the smaller of the two. The Starbase supercomputing center is designed to run independently of the power grid, with its own gas-fired power plant on a 444-acre site.

That plant is expected to generate between 708 and 748 megawatts.

The Starbase project is projected to create more than 3,000 construction jobs and over 500 permanent positions. SpaceX is also dedicating $220 million to local water infrastructure tied to the site.

Arizona is where the scale gets serious. The Cochise County campus will span roughly 747 acres and carry a capacity of up to 6 gigawatts spread across nine buildings.

Unlike Starbase, the Arizona site is expected to eventually connect to local electric cooperatives. It is also designed around dry cooling methods, with no planned industrial groundwater use.

The Arizona campus is anticipated to bring approximately 5,500 construction jobs and 1,000 permanent jobs.

Why a rocket company wants this much compute

The investment makes more sense once you look at where SpaceX’s revenue is reportedly coming from. The AI segment accounted for more than half of the company’s revenue in the third quarter of 2026.

Anthropic, the AI lab behind the Claude models, is reportedly the largest customer, contributing roughly one-third of that revenue. Google has also signed on, agreeing to pay $920 million per month for computing services.

At that monthly rate, the Google deal alone works out to more than $11 billion over a full year.

The shift also coincides with SpaceX’s move into public markets. The company listed under the ticker SPCX in June 2026, which means its spending decisions now face scrutiny from shareholders in a way they never did as a private firm.

The approvals still have to land

None of this is a done deal yet. Both projects still require local approvals, and votes on tax abatements are scheduled for December 9, 2026, alongside a public hearing covering both facilities.

What this means

For SPCX shareholders, the plan is a clear signal about where management sees growth. Committing more than $74 billion to AI infrastructure suggests SpaceX views compute as a core business, not a temporary windfall.

That conviction cuts both ways. The reported revenue concentration is notable: with Anthropic alone contributing roughly one-third of AI revenue, the health of a few large customer relationships carries outsized weight. The Google agreement adds a second heavyweight.

The power strategy is arguably the most interesting part of the plan. Texas goes fully off-grid with its own gas plant. Arizona eventually plugs into local cooperatives.

Combined, the two sites are projected to bring roughly 8,500 construction jobs and around 1,500 permanent positions. Rural Cochise County in particular could see a significant economic shift if the full 6-gigawatt buildout materializes.

The near-term item to watch is the December 9 vote.