The growth of the U.S. economy is being fueled by the hectic quest to build out massive data centers to run increasingly popular generative AI models like ChatGPT, Claude, Grok, and Gemini. The power-hungry AI data centers are driving up electricity costs in some regions and sparking local "not-in-my-backyard" opposition.

Google's investment in Elon Musk's SpaceX could yield a staggering $111 billion if the rocket company goes public next year as planned. SpaceX's succe

Google's 2015 investment of approximately $900 million in SpaceX, acquiring around 7% equity when the company's valuation was $12 billion, may yield significant returns if SpaceX proceeds with a $1.5 trillion IPO next year.

With SpaceX's valuation projected to reach $1.5 trillion upon its IPO, Google's $900 million investment in 2015 could turn into $111 billion, making it the most profitable deal in history.

SpaceX is reportedly buying back investor and employee shares at an $800B valuation. This is double from the $400B valuation just 5 months ago.

Thus, Musk customers will be able to access the internet from Google's infrastructure, while 'Big Tech' will be able to provide a faster and more secure connection in hard-to-reach areas, such as large rural areas. Don't forget that in 2015, Google ...

This transcript was prepared by a transcription service. This version may not be in its final form and may be updated. Charlotte Gartenberg: Welcome to Tech News Briefing. It's Thursday, February 20th. I'm Charlotte Gartenberg for the Wall Street Journal.

SpaceX expects to use some of the IPO proceeds to develop space-based data centres, sources said. Read more at straitstimes.com. Read more at straitstimes.com.

Finance chief at Elon Musk’s space company says possible listing could raise funds for Mars rocket, orbital data centers and more.