SpaceX is reportedly scouting locations in Texas to build new AI data centers, significantly expanding an infrastructure footprint that already includes multiple facilities in Memphis, Tennessee. Texas has become an increasingly attractive destination for large-scale data center construction, drawing projects from multiple technology companies due to its available land, power capacity, and regulatory environment. Wedbush Securities analyst Matt Bryson flagged the development in a client note on Thursday, stating that it aligns with signals the firm has been receiving from industry contacts.

According to Bryson, SpaceX has been sourcing a substantial volume of components to support its data center plans beginning in 2027 and beyond. That demand signal, he said, points to a continued strong appetite for AI compute capacity — a trend echoed across the technology sector as companies race to build out infrastructure for training and running large-scale AI models.

Existing Colossus Infrastructure

SpaceX currently operates its Colossus data centers in Memphis. Colossus 1 opened in July 2024 after approximately four months of construction. Work on Colossus 2 commenced in March 2025, and a third Memphis facility is now underway. The company also acquired an 810,000-square-foot warehouse in Mississippi in 2025. A Texas expansion would represent another significant step in what has become a rapidly growing operational footprint.

Bryson acknowledged that SpaceX has a track record of positioning its supply chain to anticipate greater demand than ultimately materializes. He cited the Colossus project as an example — real and costly, but with a supply chain originally configured for an even larger scale.

A reported $52 billion server order allegedly placed by SpaceXAI with Foxconn circulated in the market, though Elon Musk subsequently dismissed the figure as "fake news." Wedbush is not taking that number at face value but still regards the underlying demand as genuine.

Implications for Nvidia

Bryson indicated that the AI compute buildout bodes well for Nvidia. Large-scale data centers like those SpaceX is constructing require substantial quantities of advanced chips and server infrastructure. Nvidia has been consistently linked to major AI infrastructure spending, and demand from a growing roster of hyperscale customers — including Meta, Google, Microsoft, and Amazon alongside SpaceX — has reinforced the chipmaker's central position in the AI supply chain. Wedbush views SpaceX's expansion plans as an additional tailwind for the chipmaker.

NVDA shares declined approximately 1.56% on Friday, while SPCX was fractionally lower in premarket trading.

Q2 Earnings on August 4

SpaceX is scheduled to report its Q2 results on August 4, marking the company's first quarterly report since going public. Wall Street analysts are projecting revenue of approximately $6.93 billion and a loss of $0.22 per share. In Q1, SpaceX reported $4.7 billion in revenue with a loss of $1.27 per share.

Any commentary from Musk regarding AI spending plans or data center timelines will be closely scrutinized by investors, particularly as capital expenditure guidance and compute capacity targets remain focal points for evaluating the company's competitive positioning in the AI infrastructure landscape.

SPCX currently holds a Moderate Buy consensus rating on TipRanks, based on 23 Buy ratings, six Hold ratings, and one Sell rating since its IPO. The average price target stands at $239.04, approximately 102% above the current trading price.