Here’s what xAI will pay in property taxes
XAI and the Greater Memphis Chamber have said the company has invested $12 billion in the former Electrolux factory in Southwest Memphis. (Patrick Lantrip/The Daily Memphian file)
Elon Musk’s artificial intelligence company is expected to pay more than $30 million in combined Memphis and Shelby County property taxes, according to records obtained by The Daily Memphian.
But the final property tax bill is significantly lower than what it could be based on xAI’s reported investment in Memphis, amounting to a tax break for a company that did not formally receive one.
This is an excerpt of this story. To read more, please click here and subscribe.
Topics
xAI Colossus supercomputer NVIDIA Subscriber OnlyAre you enjoying your subscription?
Your subscription gives you unlimited access to all of The Daily Memphian’s news, written by nearly 40 local journalists and more than 20 regular freelancers. We work around the clock to cover the issues that impact your life and our community.
You can help us reach more Memphians.
As a 501(c)(3) nonprofit organization, we provide free news access at K-12 schools, public libraries and many community organizations. We also reach tens of thousands of people through our podcasts, and through our radio and television partnerships – all completely free to everyone who cares about Memphis.
When you subscribe, you get full access to our news. But when you donate, you help us reach all Memphians.
Pay it forward. Make a fully tax-deductible donation to The Daily Memphian today.
Thank you for reading the local news. Thank you for investing in our community.
Samuel Hardiman
Samuel Hardiman is an enterprise and investigative reporter who focuses on local government and politics. He began his journalism career at the Tulsa World in Tulsa, Oklahoma, where he covered business and, later, K-12 education. Hardiman came to Memphis in 2018 to join the Memphis Business Journal, covering government and economic development. He then served as the Memphis Commercial Appeal’s city hall reporter and later joined The Daily Memphian in 2023. His current work focuses on Elon Musk’s xAI, regional energy needs and how Memphis and Shelby County government spend taxpayer dollars.
Want to comment on our stories or respond to others? Join the conversation by subscribing now. Only paid subscribers can add their thoughts or upvote/downvote comments. Our commenting policy can be viewed here.