SpaceX plans to invest more than $74 billion in Texas and Arizona data centers

SpaceX plans to build two data centers in Texas and Arizona.

The company announced plans to invest more than $74 billion in the projects on Thursday.

Data centers are facilities that house computing equipment, and similar projects have faced local backlash.

SpaceX says the facilities will expand local tax bases and bring new revenue for schools and public services.

The company is presenting the projects as a boost for local communities.

The plans are an announcement; no further steps or timetable are given.