MEMPHIS, TN. Tuesday, January 7, 2024 –  The Greater Memphis Chamber has been awarded the prestigious 2024 Bronze Deal of the Year Award by Business Facilities magazine for successfully attracting xAI’s Gigafactory of Compute to Memphis. This groundbreaking project, led by Elon Musk’s artificial intelligence company xAI, represents a $12 billion investment in the region and solidifies Memphis’ position as the Digital Delta.

The award recognizes the Chamber’s exceptional work in securing one of the most significant technological investments in the region’s history. xAI’s facility will house the world’s largest supercomputer, marking a transformative moment for Memphis’ growing technology sector.

“This recognition from Business Facilities affirms Memphis’ position as America’s Digital Delta,” said Ted Townsend, President & CEO of the Greater Memphis Chamber. “When we submitted this project in November 2024, we knew it showcased how cities like Memphis can compete and win in the global technology sector. Our strategic advantages prove that the future of artificial intelligence doesn’t just belong to the coasts – it belongs right here in Memphis.”

The Business Facilities Deal of the Year Awards are highly competitive, recognizing the most impactful economic development projects across the nation. The 2024 awards particularly highlighted the surge in data center investments and technological advancement, with xAI’s project standing out for its innovative approach and substantial economic impact.

“The rapid evolution of artificial intelligence (AI) and the demand for technology capabilities overall spurred significant investment in data centers throughout 2024,” said Anne Cosgrove, Business Facilities Editorial Director. “Our 2024 Deal of the Year winners represent billions of dollars in capital investment and thousands of jobs for the communities in which these companies and their suppliers will operate. We congratulate the economic development teams that worked to bring all of these projects to fruition.”

This prestigious award places Memphis alongside other major economic development victories in 2024, including projects by Meta in Louisiana (Platinum winner), Amazon Web Services in Mississippi (Gold winner), and Novo Nordisk in North Carolina (Silver winner). Click HERE for more information.

About The Greater Memphis Chamber 

One of Memphis’ oldest institutions, dating back to 1838, the Greater Memphis Chamber is a privately funded nonprofit that serves as the region’s lead economic development organization and the “Voice of Memphis Business” on local, state, and national issues. The Chamber’s mission is to drive the Memphis business agenda for Greater Memphis. We do this by relentlessly pursuing prosperity for all — through economic and workforce development, pro-growth advocacy, and by providing support and resources to its investors, which include many of the region’s largest employers. For additional information, please visit www.memphischamber.com