TLDR
- SpaceX is reportedly scouting Texas locations to build new AI data centers
- Wedbush analyst Matt Bryson says industry checks confirm strong component demand from SpaceX for 2027 and beyond
- The expansion builds on existing Colossus data centers in Memphis, plus a third Memphis site under development
- Nvidia is seen as a key beneficiary of SpaceX’s growing compute buildout
- SpaceX reports Q2 earnings on August 4, with Wall Street expecting ~$6.93B in revenue
SpaceX is looking to build data centers in Texas, adding to its existing AI infrastructure in Memphis, Tennessee. Wedbush Securities analyst Matt Bryson flagged the move in a note to clients Thursday, saying it lines up with what the firm has been hearing from industry contacts.
Space Exploration Technologies Corp., SPCX
Bryson noted that SpaceX has been sourcing a large volume of components to support its data center plans from 2027 onward. That demand signal, he said, points to continued strong appetite for AI compute.
SpaceX already runs its Colossus data centers in Memphis. Colossus 1 opened in July 2024 and took about four months to build. Work on Colossus 2 began in March 2025, and a third Memphis facility is now underway.
The company also picked up an 810,000-square-foot warehouse in Mississippi in 2025. Texas would mark another step outward in what has become a rapidly expanding footprint.
Bryson acknowledged that SpaceX has a history of positioning the supply chain to expect more demand than ultimately materializes. He pointed to Colossus as an example — real and expensive, but the supply chain had been set up for even greater scale.
There was a reported $52 billion server order placed by SpaceXAI with Foxconn, though Elon Musk later called that “fake news.” Wedbush is not taking that figure at face value but still sees the underlying demand as real.
What This Means for Nvidia
Bryson said the AI compute buildout bodes well for Nvidia. Large-scale data centers like the ones SpaceX is building require substantial quantities of advanced chips and server infrastructure.
Nvidia has been a consistent name attached to major AI infrastructure spending, and Wedbush sees SpaceX’s expansion plans as another tailwind for the chipmaker.
NVDA stock was down around 1.56% on Friday, while SPCX was fractionally lower in premarket trading.
Eyes on August 4 Earnings
SpaceX is set to report Q2 results on August 4. It will be the company’s first quarterly report since going public.
Wall Street is looking for revenue of around $6.93 billion and a loss of $0.22 per share. In Q1, SpaceX posted $4.7 billion in revenue and a loss of $1.27 per share.
Any comments from Musk about AI spending plans or data center timelines will be closely watched.
SPCX carries a Moderate Buy consensus on TipRanks, based on 23 Buy ratings, six Holds, and one Sell since its IPO. The average price target sits at $239.04, roughly 102% above the current price.
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