Elon Musk, during SpaceX’s first earnings report since its June IPO, told investors on Aug. 4 that the company would end this year above 2 gigawatts of computing capacity and finish 2027 “closer to 10 gigawatts” than five. He then raised the tentative target to 20 gigawatts of power and cooling by the end of next year, but said the realistic number is closer to 15 gigawatts. New York City needs more than 10,000 megawatts at peak in an extreme heat wave, according to a July report from Comptroller Mark Levine. SpaceX spent about $18.4 billion in three months, roughly $15.8 billion of it on AI compute infrastructure, double the previous quarter, with the same pace planned for at least two more. Investors balked and the stock fell about 8% on Aug. 5. Mississippi regulators approved a permit in March for 41 gas turbines in Southaven, over the state line from SpaceX’s Memphis data centers, which the company says will produce 1.2 gigawatts and let it retire the 69 temporary turbines it has been running. The agreed order with the state blames supply chain problems for delays on the permanent turbines. PJM Interconnection’s capacity price for 2026/2027 came in at $329.17 per megawatt-day, up from $269.92 the year before.