SpaceX stock: $24B Texas AI project faces policy hurdles

What happened

SpaceX is planning an approximately $24 billion gas-fired power plant and AI data centre in Starbase, Texas, with initial investment planned across multiple phases. The proposed project faces policy uncertainty because incoming Governor Gina Hinojosa has advocated a moratorium on new hyperscale data centres; it is not yet final.

Proposed

Global impact / market context

If the project proceeds, its power plant and data centre could expand SpaceX’s computing capacity, while also requiring substantial capital spending. A moratorium could delay or constrain that buildout, affecting the timing of infrastructure investment and the company’s ability to add computing resources in Texas.

Analyst inference

The proposed project comes as Texas prepares for a leadership change and SpaceX expands its computing infrastructure ahead of another Starship test flight. The article also reports Morgan Stanley reiterated an overweight rating, meaning it sees the stock as attractive relative to its benchmark.

Confirmed

What to watch

1. Watch whether Texas adopts a moratorium on new hyperscale data centres, which are very large computing facilities; the article says incoming Governor Gina Hinojosa has advocated one. Analyst inference
2. Look for details on whether SpaceX advances the proposed project through its initial phases or pursues possible later expansions; the article does not confirm construction has begun. Analyst inference
3. The next Starship test flight is expected to attempt recovery of both rocket stages; success could mark a milestone in SpaceX’s reusability programme, according to the article. Confirmed

Evidence

• invezz.com