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A world without data centers (404: your life not found)

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If I were a betting man, I would feel safe putting money on you being woken up by a smartphone alarm this morning. Maybe you looked at your texts, perused your news apps or (if you’re like me) played Quartiles while you made your coffee and checked work emails.

I’m also willing to bet that at some point in the last week you got in your car or took a hike and used GPS, and maybe in the last few months you even went to the airport and got on a flight. There, you probably saw at least one person watching a movie with in-flight Wi-Fi or working on a project on their laptop.

Us tech folks use our devices dozens if not hundreds of times a day, utilizing countless apps for both personal and professional needs. From the moment we open our eyes, our day is being aided and enabled by cloud-connected, internet-based technologies. It’s even crept into our language. “Ask Siri”, “Google it” and “Venmo me” are normal vernacular. But here’s the real kicker: It’s not just the people with the latest smartphone, the professionals with the most advanced computer engineering degree or the world’s largest tech organizations depending on data centers. It’s everyone.

Yes, if you’re a fan of searching every question you have, working remotely or even using a credit card, that means you, too.

Sure, data centers store, process and share the data for businesses users — but in doing so, they support end users’ entire digital world and everything in it.

Without data centers, flights would be grounded (pilots could not get weather info and flight plans would not be available), communication would become rudimentary, payments would stop processing (welcome back, bartering) — even 911, which goes through an online system, would shut down. That’s just the beginning.

Today, our societal (and even national and international) success is contingent upon digital infrastructure growth — that’s just the world we live in now. But paving the way for continued data center development means everyone needs to recognize the true weight of what we do.

End users: It’s safe (and necessary) to leave behind the idea that data centers purely cater to massive tech giants and get curious about the role digital infrastructure plays in your life — unless you’re fully off the grid, but if you’re reading this, that’s not the case.

Developers, we’re certainly not off the hook here either — it’s our job to share more of our inner world. Let’s admit it: We haven’t exactly made it easy to understand our work, and it’s time for us to re-learn the ‘sharing is caring’ message we got in grade school. For our industry, acknowledging the weight of what we do for end users also means stepping into our duties as meaningful contributors, partners and educators to local, regional and national communities.

Yes, data center development Is essential (even for you)

Think about it: U.S. residents send and receive over 2 trillion text messages annually, 88% of U.S. households subscribe to a streaming service, every new automobile has some form of connectivity and 89% of Americans use mobile banking.

Life would come to a standstill if data centers were to suddenly disappear — but many people (understandably) don’t even make that connection. After all, just because we hold a phone in our hand or type on a computer doesn’t mean we become experts on how our notifications reach us or how our online world operates.

As of 2024, there were over 5,000 data centers in the U.S., and within these facilities, 4.7 million workers were keeping our infrastructure online. If we want to continue enabling our digital lives, there’s no avoiding it: We need more. This is the story that gets told in major headlines, and for anyone who enjoys modern conveniences, this is good news. However, without the ‘why’ it can seem confusing and intimidating.

On the individual level, data centers are everyone’s unsung heroes. But looking beyond our individual experiences, data centers are also vital infrastructure on the regional, national and international level.

As data centers grow in importance, so do these developments’ roles as economic catalysts, and fortunately, many regions have recognized the economic opportunity these capital-intensive construction projects present. Increased tax revenue, job creation and local contracting opportunities — plus added digital capabilities (and enrichment and training programs) from data centers and their developers — create a significant and desirable leg up for many areas.

Data Centers: Rich in Economic and Infrastructural Opportunities

Data centers are a growing business, and that means this industry is always looking for new data center talent.

These facilities already employ a massive number of workers in the U.S., offering local economies access to high-paying technical job opportunities. In fact, a 2025 impact report states that direct employment in the U.S. data center industry grew by more than 50%, compared to 10% growth in employment for the United States overall, between 2017 and 2023. The U.S. Census Bureau predicts data center requirements — computing infrastructure providers, data processing, web hosting and related services — will add 95,400 more jobs by 2033.

Here’s more good news: There are so many ways for folks to capitalize on these well-paying and vital jobs. Our own Stream Team is made up of diverse backgrounds, age groups and areas of expertise, from ex-military vets that are now security managers to recent graduates that become technicians.

As with any fast-growing industry that relies on hiring bright, motivated people, the compensation is good enough to land the best candidates. Public officials of all kinds like to focus on adding manufacturing jobs to our local economies, but in the case of data centers, the competition for outstanding talent means that even junior technicians tend to receive more competitive compensation compared to similar roles in manufacturing.

Data-center roles also provide strong pathways for additional career and compensation growth as added bonuses; the work we do is important, so growing and keeping talent is equally vital.

So, to all the parents out there looking to get their kids into a high-value, growing sector — while our industry gains attention by delivering big facilities, we know our people are our best asset, and we’re always looking for more.

Also, for the data-center developers out there: Don’t forget that the people you’ll need to empower your growth won’t just be folks with engineering degrees (and for the end users at home, try not to forget this either).

Helping our digital economy and infrastructure thrive takes all kinds, and a strong data center growth trajectory creates opportunity for everyone. This is, after all, a growing industry full of high-value jobs for all sorts of disciplines, skill levels and educational backgrounds. That should get everyone excited. But labor opportunities are just one source of value.

Data centers are also supporting transitions to carbon-free energy too. Since the hyperscalers we support are some of the largest purchasers of new-generation renewable energy on the planet, focusing on efficiency gains becomes the proverbial rising tide that lifts all boats. Most hyperscale providers do more than they are required to, ensuring they make carbon-free energy investments within local markets to achieve their targets while being additive. Hyperscale providers (and the companies that serve them, like Stream) have not used the surge in demand to abandon their commitments to sustainability — and the U.S. Sustainable Data Center market is expected to double by 2029.

In addition to great jobs, regions attracting data center developments benefit from new roads, improved internet connectivity and accessibility, and more resilient power grids thanks to data centers’ significant investments.

Not to mention, in the race for AI adoption, having a wealth of critical infrastructure assets positions all of us well for the future of the global digital economy.

Yes, these facilities are large, and to do the work end users need, they require significant resources and investment. But to continue growing as a digital economy, data centers must grow too. Fortunately, data centers tend to be a highly energy-efficient asset class (and are becoming more resource-efficient every day) — and, whenever possible, they are also built with the intention of being functionally invisible.

Just like we hardly notice how much of our day is innately tied to data centers and the information, transportation, education and entertainment we use every day, most responsible developers prefer that their data centers are barely noticeable (which helps with site security as well as the comfort of our communities). They’re like the Batman of critical infrastructure: They’re there to help you — not for glory.

Of course, that’s the effect achieved when data center development is done the right way.

Making Data Centers Mesh

As the world’s appetite for data continues to grow, the need for power and land to suit data center development has spurred outreach into new markets.

But, as with all things in life, there’s a right way and a wrong way to do this. Responsible developers will tell you that not any site will do, and finding a good one is hard. You can’t just shoehorn a data center into any open lot — nobody looking to do the right thing wants that for their customers or their communities.

For good developers, continuing to lean into responsible practices here is a non-negotiable. Sophisticated end users already know a data center that works with its surroundings safely, sustainably and reliably is the only kind of facility worth considering.

Aside from location factors like acreage, transportation access, power availability, talent and more, our planners, architects and engineers conduct extensive studies and analyses on zoning, acoustic modeling, environmental impact assessments and more. This ensures the impact of the proposed data center is minimal, at Stream, we only have a site if all that checks out.

Responsible developers follow best practices for design and construction, support good stewardship and try to mitigate disruptions and encourage efficiencies as much as possible during construction. For example, in addition to building data centers that are energy efficient and use as little water as possible, Stream has designed a proprietary configurable direct liquid cooling offering. This solution helps reduce Scope 2 and 3 emissions and adapts to meet our customers’ needs with both air and liquid cooling options as they manage rapidly changing IT requirements.

Good data-center developers are also good partners, starting with the local utilities. On a given project, Stream might fund or complete upgrades to local electrical infrastructure to balance out any added requirements. We might also help complete projects that the members of our community are passionate about, like upgrades to the right-of-way areas surrounding the facility. If you are committed to being a good partner, there are always opportunities to support the local community in meaningful ways — before and after the data center is operational. It’s the developer’s job to uncover those opportunities and deliver on our promise of being good neighbors and good providers to our customers.

When you forge meaningful relationships and create shared understanding, there are opportunities to give back to the communities where you operate while building the future we all need.

This is the inflection point we’re all sitting at — and we think developers and end users can and will meet in the middle. We’ve seen it done to great success across our markets, but it begins with transparency and an awareness of just how important these data centers are.

At Stream, we’ve been building data centers, hiring talent and driving deeper collaboration in the communities where we operate for decades. Like most data-center operators, we are excited about the growth our industry is experiencing, but we’ll never compromise on our commitments to safety, sustainability and community to build at all costs.

If this commitment to doing things the right way takes the lead, data centers can continue to be cornerstones of our day-to-day life — and nobody will have to worry about what society would look like without our digital emergency services, educational and job functions, communications and beyond.

The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs of Fortune.



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SpaceX to offer insider shares at record-setting $800 billion valuation

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SpaceX is preparing to sell insider shares in a transaction that would value Elon Musk’s rocket and satellite maker at as much as $800 billion, people familiar with the matter said, reclaiming the title of the world’s most valuable private company. 

The details, discussed by SpaceX’s board of directors on Thursday at its Starbase hub in Texas, could change based on interest from insider sellers and buyers or other factors, said some of the people, who asked not to be identified as the information isn’t public. SpaceX is also exploring a possible initial public offering as soon as late next year, one of the people said. 

Another person briefed on the matter said that the price under discussion for the sale of some employees and investors’ shares is higher than $400 apiece, which would value SpaceX at between $750 billion and $800 billion. The company wouldn’t raise any funds though this planned sale, though a successful offering at such levels would catapult it past the record of $500 billion valuation achieved by OpenAI in October.

Elon Musk on Saturday denied that SpaceX is raising money at a $800 billion valuation without addressing Bloomberg’s reporting on the planned offering of insiders’ shares. 

“SpaceX has been cash flow positive for many years and does periodic stock buybacks twice a year to provide liquidity for employees and investors,” Musk said in a post on his social media platform X. 

The share sale price under discussion would be a substantial increase from the $212 a share set in July, when the company raised money and sold shares at a valuation of $400 billion. The Wall Street Journal and Financial Times earlier reported the $800 billion valuation target.

News of SpaceX’s valuation sent shares of EchoStar Corp., a satellite TV and wireless company, up as much as 18%. Last month, EchoStar had agreed to sell spectrum licenses to SpaceX for $2.6 billion, adding to an earlier agreement to sell about $17 billion in wireless spectrum to Musk’s company.

Subscribe Now: The Business of Space newsletter covers NASA, key industry events and trends.

The world’s most prolific rocket launcher, SpaceX dominates the space industry with its Falcon 9 rocket that lifts satellites and people to orbit.

SpaceX is also the industry leader in providing internet services from low-Earth orbit through Starlink, a system of more than 9,000 satellites that is far ahead of competitors including Amazon.com Inc.’s Amazon Leo.

Elite Group

SpaceX is among an elite group of companies that have the ability to raise funds at $100 billion-plus valuations while delaying or denying they have any plan to go public. 

An IPO of the company at an $800 billion value would vault SpaceX into another rarefied group — the 20 largest public companies, a few notches below Musk’s Tesla Inc. 

If SpaceX sold 5% of the company at that valuation, it would have to sell $40 billion of stock — making it the biggest IPO of all time, well above Saudi Aramco’s $29 billion listing in 2019. The firm sold just 1.5% of the company in that offering, a much smaller slice than the majority of publicly traded firms make available.

A listing would also subject SpaceX to the volatility of being a public company, versus private firms whose valuations are closely guarded secrets. Space and defense company IPOs have had a mixed reception in 2025. Karman Holdings Inc.’s stock has nearly tripled since its debut, while Firefly Aerospace Inc. and Voyager Technologies Inc. have plunged by double-digit percentages since their debuts.

SpaceX executives have repeatedly floated the idea of spinning off SpaceX’s Starlink business into a separate, publicly traded company — a concept President Gwynne Shotwell first suggested in 2020. 

However, Musk cast doubt on the prospect publicly over the years and Chief Financial Officer Bret Johnsen said in 2024 that a Starlink IPO would be something that would take place more likely “in the years to come.”

The Information, citing people familiar with the discussions, separately reported on Friday that SpaceX has told investors and financial institution representatives that it’s aiming for an IPO of the entire company in the second half of next year.

Read More: How to Buy SpaceX: A Guide for the Eager, Pre-IPO

A so-called tender or secondary offering, through which employees and some early shareholders can sell shares, provides investors in closely held companies such as SpaceX a way to generate liquidity.

SpaceX is working to develop its new Starship vehicle, advertised as the most powerful rocket ever developed to loft huge numbers of Starlink satellites as well as carry cargo and people to moon and, eventually, Mars.



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National Park Service drops free admission on MLK Day and Juneteenth while adding Trump’s birthday

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The National Park Service will offer free admission to U.S. residents on President Donald Trump’s birthday next year — which also happens to be Flag Day — but is eliminating the benefit for Martin Luther King Jr. Day and Juneteenth.

The new list of free admission days for Americans is the latest example of the Trump administration downplaying America’s civil rights history while also promoting the president’s image, name and legacy.

Last year, the list of free days included Martin Luther King Jr Day and Juneteenth — which is June 19 — but not June 14, Trump’s birthday.

The new free-admission policy takes effect Jan. 1 and was one of several changes announced by the Park Service late last month, including higher admission fees for international visitors.

The other days of free park admission in 2026 are Presidents Day, Memorial Day, Independence Day, Constitution Day, Veterans Day, President Theodore Roosevelt’s birthday (Oct. 27) and the anniversary of the creation of the Park Service (Aug. 25).

Eliminating Martin Luther King Jr. Day and Juneteenth, which commemorates the day in 1865 when the last enslaved Americans were emancipated, removes two of the nation’s most prominent civil rights holidays.

Some civil rights leaders voiced opposition to the change after news about it began spreading over the weekend.

“The raw & rank racism here stinks to high heaven,” Harvard Kennedy School professor Cornell William Brooks, a former president of the NAACP, wrote on social media about the new policy.

Kristen Brengel, a spokesperson for the National Parks Conservation Association, said that while presidential administrations have tweaked the free days in the past, the elimination of Martin Luther King Jr. Day is particularly concerning. For one, the day has become a popular day of service for community groups that use the free day to perform volunteer projects at parks.

That will now be much more expensive, said Brengel, whose organization is a nonprofit that advocates for the park system.

“Not only does it recognize an American hero, it’s also a day when people go into parks to clean them up,” Brengel said. “Martin Luther King Jr. deserves a day of recognition … For some reason, Black history has repeatedly been targeted by this administration, and it shouldn’t be.”

Some Democratic lawmakers also weighed in to object to the new policy.

“The President didn’t just add his own birthday to the list, he removed both of these holidays that mark Black Americans’ struggle for civil rights and freedom,” said Democratic Sen. Catherine Cortez Masto of Nevada. “Our country deserves better.”

A spokesperson for the National Park Service did not immediately respond to questions on Saturday seeking information about the reasons behind the changes.

Since taking office, Trump has sought to eliminate programs seen as promoting diversity across the federal government, actions that have erased or downplayed America’s history of racism as well as the civil rights victories of Black Americans.

Self-promotion is an old habit of the president’s and one he has continued in his second term. He unsuccessfully put himself forwardfor the Nobel Peace Prize, renamed the U.S. Institute of Peace after himself, sought to put his name on the planned NFL stadium in the nation’s capital and had a new children’s savings program named after him.

Some Republican lawmakers have suggested putting his visage on Mount Rushmore and the $100 bill.



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JPMorgan CEO Jamie Dimon says Europe has a ‘real problem’

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JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon called out slow bureaucracy in Europe in a warning that a “weak” continent poses a major economic risk to the US.

“Europe has a real problem,” Dimon said Saturday at the Reagan National Defense Forum. “They do some wonderful things on their safety nets. But they’ve driven business out, they’ve driven investment out, they’ve driven innovation out. It’s kind of coming back.”

While he praised some European leaders who he said were aware of the issues, he cautioned politics is “really hard.” 

Dimon, leader of the biggest US bank, has long said that the risk of a fragmented Europe is among the major challenges facing the world. In his letter to shareholders released earlier this year, he said that Europe has “some serious issues to fix.”

On Saturday, he praised the creation of the euro and Europe’s push for peace. But he warned that a reduction in military efforts and challenges trying to reach agreement within the European Union are threatening the continent.

“If they fragment, then you can say that America first will not be around anymore,” Dimon said. “It will hurt us more than anybody else because they are a major ally in every single way, including common values, which are really important.”

He said the US should help.

“We need a long-term strategy to help them become strong,” Dimon said. “A weak Europe is bad for us.”

The administration of President Donald Trump issued a new national security strategy that directed US interests toward the Western Hemisphere and protection of the homeland while dismissing Europe as a continent headed toward “civilizational erasure.”

Read More: Trump’s National Security Strategy Veers Inward in Telling Shift

JPMorgan has been ramping up its push to spur more investments in the national defense sector. In October, the bank announced that it would funnel $1.5 trillion into industries that bolster US economic security and resiliency over the next 10 years — as much as $500 billion more than what it would’ve provided anyway. 

Dimon said in the statement that it’s “painfully clear that the United States has allowed itself to become too reliant on unreliable sources of critical minerals, products and manufacturing.”

Investment banker Jay Horine oversees the effort, which Dimon called “100% commercial.” It will focus on four areas: supply chain and advanced manufacturing; defense and aerospace; energy independence and resilience; and frontier and strategic technologies. 

The bank will also invest as much as $10 billion of its own capital to help certain companies expand, innovate or accelerate strategic manufacturing.

Separately on Saturday, Dimon praised Trump for finding ways to roll back bureaucracy in the government.

“There is no question that this administration is trying to bring an axe to some of the bureaucracy that held back America,” Dimon said. “That is a good thing and we can do it and still keep the world safe, for safe food and safe banks and all the stuff like that.”



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