Shares of aerospace-related companies are rising following news that Elon Musk's SpaceX plans to build a $24 billion power plant and data center in Texas.
As of 10:55 a.m. on November 10, T&E Korea was trading at 10,860 won, up 3,770 won (25.29%) from the previous trading day, according to the Korea Exchange.
At the same time, LIG Defense and Aerospace (up 11.11%), Korean Air (up 9.45%), Hanwha Systems (up 8.80%), Isu Petasys (up 8.85%), Almech (up 8.88%), and Intellian Technologies (up 8.11%) also saw gains.
Bloomberg and Reuters reported on November 9 that SpaceX plans to construct a gas-fired power plant and data center at its Starbase facility in southern Texas.
Despite growing opposition to data centers in the U.S., SpaceX is moving forward aggressively to secure its competitive edge in artificial intelligence (AI). The company aims to secure its own power supply to support the energy and computing infrastructure needed for AI operations.
The site spans approximately 1.8 million square meters, and the $24 billion figure represents an estimated investment for the initial phase of the project. Analysts believe that the anticipation of SpaceX's infrastructure investments, which encompass both data centers and the aerospace industry, is driving interest in related stocks.
* This article has been translated by AI.
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