Elon Musk's $24 billion Texas plan faces a major obstacle

Space Exploration Technologies Corp. (SPCX, Financials) has plans to build a $24 billion data center and natural gas power plant in Starbase, Texas, as the company grows its artificial intelligence computing business.

TipRanks said a notice of a public hearing revealed the intended investment, citing a story from Bloomberg.

SpaceX has filed for a property tax abatement for the project. The Starbase City Commission will review the request and an associated economic development agreement on Dec. 9. The $24 billion is an estimate for the first stage of the project.

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