Elon Musk is bringing the world’s largest supercomputer, xAI’s Gigafactory of Compute, to Memphis.
Representing the largest capital investment by a new-to-market company in Memphis history, the company would occupy a former manufacturing facility. This project is pending approval by the Memphis Shelby County Economic Development Growth Engine (EDGE), Tennessee Valley Authority, and governing authorities.
The Greater Memphis Chamber’s economic development team, led by Chief Economic Development Officer Gwyn Fisher and Vice President of Global Business Development, Troy Parkes, moved at lightning speed to ensure xAI would make Memphis their top choice. This landmark achievement signals a new era of growth and innovation for Memphis.
“Our Chamber is built for this,” said Ted Townsend, President & CEO of the Greater Memphis Chamber. “In less than three weeks, the Chamber’s economic development team demonstrated remarkable coordination, swiftly providing solutions and rallying partners faster than any other community. From the initial three weeks until today, Memphis emerged as a global nexus where velocity meets potency, which are attractive attributes to the xAI team.”
This groundbreaking investment was made possible with the support of building owners, Phoenix Investors, and the great partnership the Chamber shares with City of Memphis, Shelby County, and MLGW.
“Memphis is a city of innovators, so it’s no surprise that it feels like home to those looking to change the world,” said Memphis Mayor Paul Young. “We get things done here. We have great partners at the Greater Memphis Chamber and MLGW who were ready to make this happen. We had an ideal site, ripe for investment. And we had the power of our people who created new and innovative processes to keep up with the pace required to land this transformational project.”
Musk, who is the CEO of Tesla and SpaceX, founded X.AI Corp. in 2023 and is headquartered in the San Francisco Bay Area.
The company’s proposed unprecedented commitment underscores the tremendous potential and limitless opportunities that Memphis offers as a vibrant hub for business, technology, culture, and community. The company expects to create high quality jobs upon completion of Phase 1, with opportunities for more substantial investment in future phases.
“Memphis is the Digital Delta,” said Gwyn Fisher. “We are experiencing a dynamic wave of development across various sectors, including technology, infrastructure, healthcare, manufacturing, and education. This monumental recruitment investment marks a pivotal point in our city’s trajectory, and will drive continued entrepreneurship and ingenuity, propelling Memphis to the forefront of global innovation and competitiveness.”
Learn more about X.AI Corp here.
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