Unable to build on the ground, Musk turned his thoughts to the skies: after Democrats won both chambers, he said on X that space-based data centers are looking pretty attractive now.
The snag is Texas: the governor-elect supports pausing new construction, and the state accounts for 27% of the electricity demand from planned data centers across the U.S. In premarket trading, CoreWeave fell 3.3% and IREN dropped 4.3%. These stocks are already down 50% to 60% from their highs.
Private investment in space hardware is expected to reach about $17 billion in 2025, up from just $500 million in 2012. Ground-based permitting hurdles are pushing money skyward.
The snag is Texas: the governor-elect supports pausing new construction, and the state accounts for 27% of the electricity demand from planned data centers across the U.S. In premarket trading, CoreWeave fell 3.3% and IREN dropped 4.3%. These stocks are already down 50% to 60% from their highs.
Private investment in space hardware is expected to reach about $17 billion in 2025, up from just $500 million in 2012. Ground-based permitting hurdles are pushing money skyward.