Besides electricity and chips, water is now becoming a hard constraint for computing power expansion. SpaceX revised its prospectus before going public, listing water scarcity as a core risk for AI data center expansion. Data center cooling requires a large amount of water. Droughts, local water usage competition, and regulatory restrictions could all slow down expansion progress. These issues used to appear more in ESG reports, but now they’ve made their way into IPO risk disclosures. Author: @OmniTools_AI