Scottish Mortgage Investment Trust, a London-listed fund managed by Baillie Gifford, has sold its last Tesla shares and cut its SpaceX stake. The moves lock in profits from two of its best long-term bets. SpaceX made up 11.1% of total assets on Wednesday, down from 15% at September 30. The fund sold shares as post-IPO lock-up limits lifted in stages, but said its conviction in SpaceX remains high. It exited Tesla in April, ending an investment that began in 2013. The fund said it returned 13 times the capital invested, and cited rising competition, particularly in China. Net asset value rose 31.5% in the six months to September 30, with SpaceX adding 8 percentage points. The fund first backed SpaceX in December 2018, committing roughly $200 million.

SpaceX shares fell 6% on Thursday morning as plans for a large artificial intelligence data center in Arizona met local opposition. The campus would cover about 700 acres in Cochise County, in the southeast of the state, with up to nine computing buildings. KVOA Tucson reported it could need about six gigawatts of electricity at full capacity. A battery storage system would help supply power. Nearby residents worry about pressure on local water resources and the effect on their rural community. The backlash shows the local resistance that can meet efforts to expand computing capacity for AI.

SpaceX proposes massive 747-acre AI data center near Willcox, drawing mixed reactions from rural Cochise County residents. Gila Herald Staff Reports COCHISE COUNTY - A packed community meeting at Cochise Elementary School on Wednesday evening drew roughly 275 residents to learn about a massive proposed development that could dramatically reshape the rural landscape near Willcox. SpaceX officially confirmed during the meeting that it is driving a proposed 747-acre artificial intelligence data center campus and battery energy storage system in the area. Location and scope of the project. The project is proposed on land zoned rural near the Apache Generating Station along U.S. Highway 191, about 13 miles outside Willcox and near the unincorporated community of Cochise. According to a special use authorization application filed under the name Tombstone Resources LLC, the facility would feature up to nine data center computing buildings. At full build-out, the campus would require up to 6,000 megawatts - or six gigawatts - of electricity, making it one of the largest proposed data center developments in the country by power demand. SpaceX representatives explained that they used the name Tombstone Resources LLC on the application because using the SpaceX name immediately draws outside attention. Economic promises versus community concerns. The application and company representatives highlighted several potential local benefits, including thousands of construction jobs, about 1,000 permanent positions, and the potential to lower electricity bills for customers of the Sulphur Springs Valley Electric Cooperative. Riley Trettle, SpaceX's head of energy and supercomputer department, told attendees during breakout sessions that the company intends to source permanent employees locally from the surrounding area. However, the meeting drew fierce opposition and sharp questioning from numerous local residents concerned about the development's massive scale and its long-term impact on the rural community. Some residents supported the project as a step toward technological progress, while others argued the community lacks sufficient information, with several expressing skepticism about promised local job numbers and the transparency of the application process. Environmental and infrastructure impacts. Key community concerns included electricity demand, potential noise levels, wildlife impacts, and water use. To address water concerns, the application outlines plans for a dry-cooling system that uses air instead of water to cool the computers. The application also states that the facility will not pump groundwater from the Willcox basin for industrial or non-drinking needs, estimating that total water usage at full build-out would be equivalent to the consumption of roughly 20 to 30 Arizona homes. Despite these assurances, many residents remain worried about the potential strain on local resources and environmental unknowns. Jason Bowling, CEO of Sulphur Springs Valley Electric Cooperative, said public sentiment is divided. He emphasized that both excitement and concern are valid, and that the community needs to let the facts emerge so residents can evaluate the project independently. Next steps. No formal decision has been made regarding the project. Construction is slated to begin immediately if the special use authorization is approved. The Cochise County Planning and Zoning Commission is scheduled to hold a formal public hearing on the proposal on Dec. 9 at 4 p.m., where the commission will review the request.