The office of Gov. Greg Abbott and SpaceX announced the first phase of the development: a vertically integrated semiconductor fabrication plant is being built.
Data: FactSet; Note: As of June 30, 2026 market close; Table: Matt Phillips/Axios The market's giant winners this year — memory-related stocks — also look ridiculously cheap. Why it matters: Their low price-to-earnings multiples reflect the market's worries that the current boom times won't last. Yes, but: Some analysts argue that this time is different because of the arrival of AI as a giant new source of demand for memory. They say the market should start valuing memory shares more like other tech companies. - If the memory bulls are right, it could keep the market climbing. Case in point: Take SK Hynix, the South Korean memory chipmaker and market darling that soared more than 500% over the last year. - It just raised $26.5…
Google's electricity, water use and greenhouse gas emissions all climbed to record levels last year as the company raced to build more AI infrastructure. Why it matters: Google has invested more aggressively than perhaps any other tech company in clean energy , yet its environmental report released Tuesday shows how difficult it has become to keep climate goals on track amid the AI buildout. Driving the news: Google's data centers are becoming more efficient, but the company's AI infrastructure is growing even faster. - "This rapid expansion in energy demand is a reality we must manage actively, and we're committed to ensuring that the growth of AI doesn't become a rationale for lowering our environmental standards," the report states.…
The AI economy is being constrained by the physical world: The Iran war threatens to squeeze the industrial inputs that chip manufacturers depend on, the latest confirmation that once-reliable global chokepoints are now more fragile than ever. Why it matters: It is part of a growing pattern defining the economic conditions of the 2020s: shocks exposing the fragility of supply chains that the world took for granted. - The AI buildout is the latest to be throttled by this trend — in this case, the effects of an uncertain Middle East conflict and the Strait of Hormuz's effective closure. What they're saying: "Hyperscalers are committing roughly $650 billion to U.S. AI infrastructure this year alone. And that investment assumes the supply…
Nvidia's chips are improving at such a staggering pace that it defies any historical comparison. Why it matters: Without these gains — which are drawing increased attention as AI transforms society — physics would slam the brakes on the data center boom. Driving the news: Nvidia CEO Jensen Huang said Monday he expects the company to reap "at least" $1 trillion in revenue for its newest chips through 2027. - It posted record sales and earnings last month , fueled by skyrocketing orders from Big Tech data center companies. By the numbers: Nvidia has historically dominated the market. But its cumulative share has dropped from 100% in the first quarter of 2022 to 65% in the fourth quarter of last year, according to the research and…