SpaceX's AI spending unnerves Wall Street despite promises of quick payoff
Musk wants to be an AI pioneer through some combination of his company's Grok model and eventually by building data centers in space. The deals with Anthropic, Google and Reflection indicate that SpaceXAI, as the AI business is now known, built way more capacity at its mammoth data centers in Memphis than it's able to put to use. Musk said on the call that the company has a "series of projects" that cumulatively come to 20 gigawatts of capacity, including power and cooling, by the end of next year.
- ▪Musk wants to be an AI pioneer through some combination of his company's Grok model and eventually by building data centers in space.
- ▪The deals with Anthropic, Google and Reflection indicate that SpaceXAI, as the AI business is now known, built way more capacity at its mammoth data centers in Memphis than it's able to put to use.
- ▪Musk said on the call that the company has a "series of projects" that cumulatively come to 20 gigawatts of capacity, including power and cooling, by the end of next year.
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| Original publisher | CNBC |
| Canonical URL | https://www.cnbc.com/2026/08/04/spacex-ai-spending-unnerves-wall-street-despite-promising-quick-payoff.html |
| Publication time | Wed, 05 Aug 2026 06:49:39 +0000 |
| Retrieval time | 2026-08-05T07:05:41.385Z |
| Last seen | 2026-08-05T07:05:41.385Z |
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| Summary source text | contentText |
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| Cluster | -XHpmkv2tk0f · 1 stories |
| Cluster logic | Grouped by semantic title/content similarity across sources within a rolling window. Same-publisher template collisions are excluded from coverage comparison. |
| Ranking reason | Story pages are not engagement-ranked. Hub feeds use recency, with optional source-diversified chronological ordering (cap consecutive stories per source). No personalized ranking. |
| Publisher visit | Yes — open original |
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| Retrieval / RAG | May the content be exposed for third-party retrieval-augmented generation? | Not asserted |
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Musk wants to be an AI pioneer through some combination of his company's Grok model and eventually by building data centers in space. The deals with Anthropic, Google and Reflection indicate that SpaceXAI, as the AI business is now known, built way more capacity at its mammoth data centers in Memphis than it's able to put to use. Musk said on the call that the company has a "series of projects" that cumulatively come to 20 gigawatts of capacity, including power and cooling, by the end of next year. "Some of them won't pan out exactly on time, but I would expect that we'd still probably have, at the power plant level, something close to 15GW," Musk said. There are also potential legal headwinds.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at CNBC.
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