Jul 18, 2017

Facebook to expand New Mexico data center, upping investment to a half billion dollars

Noah Berger / AP

Facebook will build a second $250 million data center on top of an existing $250 million investment, according to an announcement from New Mexico Gov. Susana Martinez. The data center has an area equal to 17 football fields. Martinez is touting the investment as a win in its effort to bring technology and energy projects to the state.

The impact: Martinez notes that the company anticipates having as many as 1,000 workers onsite at the peak of construction, as well as more full-time jobs for the expansion once complete. But it's worth remembering that once built, even the most massive of data centers aren't big sources of jobs. Generally only a relative handful of people are needed to handle management and security.

Gut Check: While $500 million is a lot of change, it's not atypical for the types of data centers built by the Facebooks, Googles and Apples of the world. Indeed, most large-scale, data-based companies build data centers around that size. Also, unlike engineering operations, which tend to be concentrated in a few tech hubs around the country, data centers tend to get built in places with cheap electricity, cheap water for cooling, and tax breaks.

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Scoop: Instacart raises another $100 million

Illustration: Sarah Grillo/Axios Visuals

Grocery delivery company Instacart has raised $100 million in new funding, on top of the $225 million it announced last month, the company tells Axios. This brings its valuation to $13.8 billion.

Why it matters: This funding comes at what could be an inflection point for Instacart, as customers it acquired during coronavirus lockdowns decide whether they want to continue with the service or resume in-person grocery shopping.

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Updated 46 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 a.m. ET: 10,902,347 — Total deaths: 521,940 — Total recoveries — 5,777,662 — Map.
  2. U.S.: Total confirmed cases as of 10 a.m. ET: 2,739,879 — Total deaths: 128,740 — Total recoveries: 781,970 — Total tested: 33,462,181 — Map.
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  5. Politics: Herman Cain hospitalized for COVID-19 after attending Trump Tulsa rally — Biden downplays jobs number, rebukes Trump for ignoring health crisis.
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  7. States: Texas mandates face masks in public spaces — Florida reports more than 10,000 new coronavirus cases, and its most-infected county issues curfew.
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Jennifer A. Kingson
6 hours ago - Economy & Business

Markets swell as the economy shrinks

Illustration: Eniola Odetunde/Axios

The economy is sputtering, but the markets are thriving — a highly unusual event that shows how the coronavirus has thrown all bets off.

Why it matters: The disconnect adds to the wealth gap. The richest 10% of households — who own 84% of stocks — are getting richer, while millions of out-of-work Americans cross their fingers that pandemic unemployment benefits will be extended.

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