This week's roundup of Houston innovators includes Joanna Nathan of Prana Thoracic, James Rees of BWT, and Aimee Gardner of SurgWise. Photos courtesy

Editor's note: In this week's roundup of Houston innovators to know — a special Labor Day edition, I'm introducing you to three local innovators across industries — from human resources to medical devices — recently making headlines in Houston innovation.

Joanna Nathan, CEO and founder of Prana Thoracic

Joanna Nathan joins the Houston Innovators Podcast and explains why she's taken on leading a medical device startup. Photo courtesy of Joanna Nathan

If there was a Houston innovation ecosystem playing card, Joanna Nathan would definitely have BINGO by now. From starting a startup while a student at Rice University and being an early hire of medical device company Saranas to leading investment at Johnson & Johnson's Center for Device Innovation, Nathan is headed back to the founder seat with Prana Thoracic, a new company planning to equip physicians with a better tool for lung cancer intervention.

"Unlike breast, prostate, and other types of cancers, we historically have not actively screened for lung cancer," Nathan says on this week's Houston Innovation Podcast. "Screening has only just begun in this world, and because of that, physicians still need the right tools to take early screening information and turn it into early intervention."

Last month, Nathan, who serves as CEO of the company, and Prana announced that Nucore Medical Inc., its wholly owned subsidiary, has been awarded a $3 million grant from CPRIT. Click here to read more and stream the podcast episode.

James Rees, chief impact officer at Botanic Water Technologies

James Rees is the Houston-based chief impact officer at BWT. Photo via LinkedIn

This probably isn't breaking news, but the world is on the midst of a water crisis. More than 2 million Americans don’t have access to clean drinking water, according to one study by the U.S. Water Alliance group.

To help close that water gap, international firm, Botanical Water Technologies, has plans to expand its presence in the United States with the Houston region being a strategic area to roll out the implementation of a patented water filtration technology. In addition, the group is launching a blockchain enabled trading platform with Fujitsu to help support the business.

“Water is finite,” says Houston-based James Rees, chief impact officer at BWT. “Due to global growth and climate conditions, we are going to have between 20 to 30 percent less water available to us by 2025. Communities are facing issues with water infrastructure. Some communities don't have water. This is where BWT plans to come in to help.” Click here to read more.Click here to read more.

Aimee Gardner, CEO and co-founder of SurgWise

Aimee Gardner is the CEO and president of Houston-based SurgeWise. Photo via surgwise.com

Over the course of the summer, Aimee Gardner has been writing strategic columns for startups with hiring tips. Her articles have focused on scaling quickly, why not to just trust your gut when hiring, and attracting and retaining a diverse workforce.

Gardner's advice is especially keen since she herself is a startup founder — but also has a Master's degree in organizational psychology. For years, she's been advising both her clients at her company SurgWise Consulting, but also students at Baylor College of Medicine.

"If your startup has gotten to the point of being able to grow the team, it is clear that ample vision, strategy, and innovation has been dedicated to the mission up until this point. Hiring in the next round of team members is not a process that should undergo any less dedication," she writes in one of her articles. "Ensuring that those around you share your vision, goals, and have a complementary set of skills and attributes will be critical to ensure success in your company’s growth and achievements." Click here to read her guest columns,

Creating a thriving culture for diversity, equity, and inclusion requires intentional focus and allotment of time and resources. Photo via Getty Images

Houston expert: How to attract and recruit a diverse workforce for your startup

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The recent and long overdue awakening to systematic racism in the United States has brought with it a focused attempt to create more equitable opportunities in the workforce. Organizations are investing time reviewing their historical selection and performance data, creating new strategies for attracting applicants from historically underrepresented groups, and investing resources to ensure ongoing support and inclusion for all members of their community.

Startups in the early stages of bringing in personnel and crafting organizational culture have the advantage of building from a blank slate, and can benefit from implementing recruitment and selection strategies shown to help increase diversity.

Internal review

Prior to developing any strategic recruitment plan, companies must first perform an in-depth internal review of company culture, values, and future plans for growth and evolution. Defining these organizational attributes will help the company better understand the types of individuals who will thrive in the environment so that it can 1) accurately market the company and 2) maximize person-organization fit (P-O fit). P-O fit describes the extent to which an individual’s competencies, values, and preferences are compatible with the organization’s core values and offerings and has been linked to higher job satisfaction, job performance, and organizational commitment along with decreased turnover. Carving out the company’s current and desired culture, values, and goals for growth can serve as a starting point for accurately marketing the company to prospective applicants, understanding what applicant attributes and values will be the best fit for the company, and creating outreach and screening methods accordingly.

Information sharing

After an organization has performed a thorough internal exploration, it can then begin to share relevant information with prospective applicants. By and large, much of this information is gleaned by applicants through organizational websites. Indeed, organizational websites are often the main source of information for applicants and can provide a positive first impression and communicate its culture to leverage P-O fit. Research also suggests that companies cannot go wrong by sharing too much information about the organization on their website and through social media.

Companies can also ensure that the information provided on their websites and on social media pages demonstrate pictorial diversity, as including pictures of minorities has been shown to increase organizational attraction among Latinos and Blacks. Including video testimonials from any incumbent employees who reflect the diversity the organization is trying to attract can also enhance employer attractiveness. Finally, organizations seeking to increase diversity – but with little baseline diversity – should be honest about their current diversity climate with prospective applicants. Being transparent about current diversity figures, along with goals for future growth and specific strategies taken to enhance the diversity climate, can be a successful strategy as well. It is much better for an organization to provide an accurate snapshot of the current milieu so that informed decisions can be made, as inflated and inaccurate expectations among new entrants can result in job dissatisfaction and turnover.

Targeted recruitment

Companies seeking to increase the demographic diversity of applicants can also engage in targeted recruitment by focused advertisement and promotion at schools who graduate large number of underrepresented minorities. For example, partnerships with Historically Black Colleges and Universities (HBCUs), such as Prairie View A&M University, Texas Southern University, and St. Phillip’s College, can ensure broad reach. Creating virtual visit days, providing lectures to students, and other educational outreach programs with these institutions can broaden awareness and interest.

Selection

Organizations must continue to ensure equitable opportunities for all even after receiving applications from a diverse group. Shortlisting applicants based on certain pieces of information in the application can be at odds with efforts to create a diverse workforce. For example, reliance on standardized examination scores, such as SAT and ACT, can negatively impact underrepresented minority applicants. Letters of recommendation are also often frequently relied upon in selection, despite their discriminatory origin and evidence showing differences across genders and socioeconomic groups. Finally, use of unstructured interviews can also increase susceptibility to biases against minority groups. Thus, companies should only incorporate screening tools and processes that will not disadvantage applicants from different backgrounds.

Other selection methods can help programs achieve their diversity goals. For example, inclusion of structured interviews can ensure interviewers avoid common interviewing mistakes and providing unbiased ratings.Often, small details can have a large impact on hiring decisions. For example, applicants with accents and ethnic names are often disadvantaged during interviews, receiving less favorable interview ratings. Similarly, overweight candidates receive significantly lower performance ratings in interviews, compared to average weight candidates. Finally, studies have shown an overall bias against pregnant women in interview settings. Fortunately, these studies have also shown that structured interviews reduce these biases. Thus, standardizing which questions are asked and training interviewers to avoid inappropriate and potentially illegal questions is critical.

In conclusion, companies seeking to enhance the diversity of their workforce must consider their practices and policies in recruitment and selection. Unfortunately, there are no “quick fixes.” Creating a thriving culture for diversity, equity, and inclusion requires intentional focus and allotment of time and resources.

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Aimee Gardner is the co-founder of SurgWise, a tech-enabled consulting firm for hiring surgeons, and associate dean at Baylor College of Medicine.

Think you’re a great judge of character during interviews? You’re not alone — but you’re probably wrong. Photo via Pexels

You shouldn't be just trusting your gut when hiring, says this Houston expert

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If your startup has gotten to the point of being able to hire in new team members – congratulations! Your hard work and innovative ideas have been recognized, and you are now able to bring in others to help achieve your vision. While you may have specific ideas about the types of individuals you want on your team, interviewing candidates is not an easy feat, and deserves the same amount of strategy and organization you have dedicated to other critical company decisions. It can be tempting to rely on gut instinct when interviewing, but the science suggests there is a better way.

Organizations, regardless of company size or tenure, most commonly conduct unstructured interviews — those in which applicants meet with a bundle of organizational stakeholders and are asked a variety of questions deemed valuable for that interviewer. Questions typically cover topics such as interest in the role, experience in the field, specifics about their application, or anything else intended to develop rapport with the candidate. Interviewers may even utilize brainteaser questions intended to put applicants on the spot or try to gauge their ability to think on their feet.

Despite the fact that interviewers often feel they are a great judge of candidates during these interviews, interviewers actually obtain little usable information from them. Unstructured interviews limit the ability to gather specific, competency-based data on each applicant, create difficulty in comparing candidates along the same dimensions, and do not ensure that rating forms, if they exist at all, are being used in the same way among interviewers. The literature supports these limitations, showing that unstructured interviews can lead interviewers to focus on irrelevant information and increase susceptibility to biases, are highly unreliable are poor predictors of job performance, and can actually hurt predictive accuracy compared to not even interviewing at all. And those brainteaser questions? After years of studying their effectiveness, even Google has admitted they are worthless at predicting future job performance.

The alternative then is to adopt a structured interview. Structured interviews have four key characteristics:The first is that all questions are created prior to the interview, and are based upon a thorough job analysis — a rigorous, multi-method competency modeling process to help organizations identify key competencies required for success in the role. These data are used to develop role-specific interview questions and rating forms. Structured interviews also require that all candidates are asked the exact same questions, and in the same order to provide an equitable opportunity for applicants and reduce any primacy, recency, or contrast effects. Finally, structured interviews require that interviewers are trained not only on how to conduct interviews to maximize utility and minimize bias, but that they are also trained to use the competency rating forms in the same way.

As a result of this structure, these types of interviews have a strong evidence-base behind them. They demonstrate higher levels of reliability between raters, are better able to predict later job performance, and minimize opportunities for racial and gender bias to emerge. Importantly, structured interviews are also more efficient. Studies have shown that it would take three to four unstructured interviews to reach the same levels of accuracy as just one structured interview conducted by one interview. In summary, the structure and standardization embedded within structured interviews is important from the validity, reliability, fairness, and practicality perspectives. For all of these reasons, structured interviews meet best practice and legal standards for a high-stakes assessment method.

When building the team for your startup, it is imperative that you can accurately assess all job candidates and their alignment with your company’s goals, vision, and needs. Informal conversations are unlikely to help achieve this aim. Despite how great a judge of character you think you are, the data are clear — structured interviews are the most efficient and effective way to evaluate candidates for your positions.

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Aimee Gardner is the co-founder of SurgWise, a tech-enabled consulting firm for hiring surgeons, and associate dean at Baylor College of Medicine.

Consider these evidence-backed hiring tips before scaling your startup's team. Photo via Getty Images

Houston expert: How to scale your startup team quickly and efficiently

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Startups often use the first rounds of funding to bring in key individuals who will help make the company vision a reality. But hiring the right talent is not an easy task, and ensuring the right team is in place is important now more than ever during the early stages of your company’s growth.

Fortunately, there is a science to employee selection. In fact, there is entire field — Industrial & Organizational Psychology — dedicated to providing professional guidelines, best practices, and over 100 years of evidence to support recommendations into identifying talent an effective, efficient, and equitable manner.

From this field, we know that the first step to hiring in the right talent for your startup is to perform a thorough job analysis. Whether you are bringing in a new CEO, a vice president of sales, or extra hands for your technology platform, gaining consensus among your team about the competencies and attributes required to effectively perform in a new role is critical.

It sounds simple, but it is actually a rarity for organizational stakeholders to get together and comprehensively map out what the role entails and what candidate qualities are necessary to meet those requirements and expectations. Factoring things in such as early-stage demands, future landscape, and organizational culture will help create a list of competencies and attributes needed to be optimally effective in the role, beyond just professional experience and certifications.

After prioritizing the list of competencies and qualities deemed vital for candidates, you will then want to prioritize the list based on importance, how frequently they are required in the role, and the extent to which each is required upon hire —versus being easily trained or acquired on the job. Those at the top of the list should be directly assessed during the candidate screening and selection process. Whether it is through work samples, written assessments, situational judgment tests, or interviews, creating a diverse lineup of candidate screening processes will help ensure you are able to measure the whole person.

Because selection decisions can be high stakes — both for the candidate and your company — ensuring these assessments are directly related to the position, data-driven, and equitable will be key for maximizing the utility and legal defensibility of your selection system. For example, implementing unstructured interviews is common practice in many organizations large and small.

However, what the data shows is clear: structured interviews — those that consist of a pre-defined list of questions related to the role that are used for every candidate, use standard interview rating tools, and involve interviewers who have been trained to conduct structured interviews and use the rating tools — are more efficient and effective in accurately assessing job candidates.

Furthermore, the structure involved in this interview format reduces the opportunity for common biases and inappropriate questions to emerge during the interview process, thereby enhancing the likelihood for making equitable selection decisions and avoiding potential for legal litigation. Thus, it is important to ensure every screening tool or process has been thoughtfully considered and implemented from an efficiency, effectiveness, and equity lens. Making a shortlist of candidates and final offers based on the data accumulated through these processes will maximize the likelihood of identifying best fit candidates based on comprehensive data points.

If your startup has gotten to the point of being able to grow the team, it is clear that ample vision, strategy, and innovation has been dedicated to the mission up until this point. Hiring in the next round of team members is not a process that should undergo any less dedication. Ensuring that those around you share your vision, goals, and have a complementary set of skills and attributes will be critical to ensure success in your company’s growth and achievements.

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Aimee Gardner is the co-founder of SurgWise, a tech-enabled consulting firm for hiring surgeons, and associate dean at Baylor College of Medicine.

This week's roundup of Houston innovators includes Kelly Pracht of nVenue, Aimee Gardner of SurgWise, and Kelly Avant of Mercury. Courtesy photos

3 Houston innovators to know this week

who's who

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — from sports tech to venture capital — recently making headlines in Houston innovation.

Kelly Pracht, CEO and co-founder of nVenue

nVenue's proprietary predictive analytics appear at the bottom right corner of the screen on Apple TV broadcasts. Photo via nvenue.com

Next time you're watching an Astros game on Apple TV, check the bottom right-hand side of the screen. That prediction data comes by way of a Texas startup with deep Houston roots. nVenue, co-founded by Houstonian Kelly Pracht, struck a deal earlier this year that allowed her data-driven sports analytics platform on the screens of baseball viewers this season.

"In under two weeks we structured the deal, convinced them it worked, pulled together every bit of testing we could — by then we only had one week of pre-season games to test — and we pulled it off," Pracht says.

The technology has a lot of potential when it comes to microbetting — a part of sports fandom that's growing by the second. Click here to read more.

Aimee Gardner, CEO and president of SurgWise

SurgeWise is giving surgical teams the right support for hiring. Photo via SurgWise.com

Hiring surgeons is a whole thing — tons of paperwork, inequitable and archaic processes, and lots of medical practitioners' time wasted. Five years ago, Aimee Gardner came up with a solution and founded SurgWise Consulting, where she serves as president and CEO.

"We help provide assessments to help screen competencies and attributes that people care about," Gardner says. "(Those) are really hard to assess, but really differentiate people who really thrive in training in their careers and people who don't."

Now, Gardner is tapping into the last five years of data she's accumulated and has big plans for developing a tech platform for her solution. Click here to read more.

Kelly Avant, investment associate at Mercury Fund

Kelly Avant, investment associate at Houston-based Mercury Fund, shares how and why she made her way into the venture capital arena. Photo courtesy of Mercury

Kelly Avant's resume might not make sense to you at first. She went from a gender studies major in undergrad, followed by a stint in the Peace Corps, before heading to law school. After moving on to get her MBA over her JD, Avant realized a way she could really make the biggest impact: venture capital.

"VC is an awesome way to shape the future in a more positive way because you literally get to wire money to the most innovative thinkers, who are building solutions to the world’s problems," Avant tells InnovationMap.

Avant joined the Mercury Fund team last year as an MBA associate before joining full time as investment associate. Now, after completing her MBA from Rice University this month, Avant tells InnovationMap why she's excited about this new career in investment in a Q&A. Click here to read more.


SurgWise is giving surgical teams the right support for hiring. Photo via Getty Images

Houston startup equips medical teams with data-driven hiring tool

staffing up

A surgeon spends over a decade in school and residency perfecting their medical skills, but that education doesn't usually include human resources training. Yet, when it comes to placing candidates into surgical programs, the hiring responsibilities fell on the shoulders of surgeons.

Aimee Gardner, who has her PhD in organized psychology, saw this inefficiency first hand.

"I worked in a large surgery department in Dallas right out of graduate school and quickly learned how folks are selected into residency and fellowship programs and all the time that goes into it — time spent by physicians reviewing piles and piles of like paper applications and spending lots and lots and of hours interviewing like hundreds of candidates," Gardner tells InnovationMap. "I was just really shocked by the inefficiencies from just a business and workforce perspective."

And things have only gotten worse. There are more applicants hitting the scene every year and they are applying to more hospitals and programs. Future surgeons used to apply for 20 or so programs — now it’s more like 65 on average. According to her research, Gardner says reviewing these applications cost lots of time and money, specifically $100,000 to fill five spots annually just up to the interviewing phase of the process.

Five years ago, Gardner came up with a solution to this “application fever,” as she describes, and all the inefficiencies, and founded SurgWise Consulting, where she serves as president and CEO.

"We help provide assessments to help screen competencies and attributes that people care about," Gardner says. "(Those) are really hard to assess, but really differentiate people who really thrive in training in their careers and people who don't."

Aimee Gardner is the CEO and president of Houston-based SurgWise. Photo via surgwise.com

These are the non-technical skills, like the professionalism, interpersonal skills, and communication. While SurgWise began as a service-oriented consulting company, the company is now ready to tap technology to expand upon its solution. The work started out of Houston Methodist, and SurgWise is still working with surgery teams there. She says they've accumulated tons of data that can be leveraged and streamlined.

"We're now pivoting from a very intimate client approach to a more scalable offering. Every year we assess essentially around 80 percent of all the people applying to be future surgeons — those in pediatric surgery, vascular surgery, and more,” Gardner says. “We’ve used kind of the last five years of data and experiences to create a more scalable, easy-to-integrate, and off-the-shelf solution.”

Gardner says her solution is critical for providing more equity in the hiring process.

“One of our goals was to create more equitable opportunities and platforms to assess folks because many of the traditional tools and processes that most people use in this space have lots of opportunity for bias and a high potential for disadvantaging individuals from underrepresented groups," she says. "For example, letters of recommendation are often a very insider status. If you went to some Ivy League or your parents were in health care and they know someone, you have that step up from a networking and socioeconomic status standpoint."

Personal statements and test scores are also inequitable, because they tend to be better submissions if people have money for coaching.

SurgWise hopes to lower the number of programs future surgeons apply to too to further streamline the process. She hopes to do this through an app and web tool that can matchmake people to the right program.

“Our ultimate goal is to create a platform for applicants to obtain a lot more information about the various places to which they apply to empower them to make more informed decisions, so that they don't have to apply to a hundred places," Gardner says. "We want to essentially create a match-style app that allows them to input some data and tell us 'here's what I'm looking for here are my career goals and any preferences I have.'”

While that tool is down the road, Gardner says SurgWise is full speed ahead toward launching the data-driven hiring platform. The bootstrapped company hopes to raise early venture funding this summer in order to hire and grow its team.

“As we continue to consider this app that I talked about and some of the other opportunities to scale to other specialties we're gonna start looking for a series A funding later this summer.”

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Houston lab explores how AI bots can help the elderly

AI for aging

The University of Houston’s Empathetic Lifespan AI & Robotics for Aging (ELARA) Lab is currently conducting research into how AI bots may be able to help the elderly live more social and independent lives through several ongoing initiatives.

The lab officially launched last month as part of the Gerald D. Hines College of Architecture & Design under the leadership of Assistant Professor Chorong Park. Part of the lab’s mission is tackling ongoing problems with aging, such as dealing with disabilities and social isolation. Researchers’ current work is focused on designing a new AI companion bot specifically tailored to the needs of older people.

“We need to take all the needs of older adults seriously,” Park said in a news release. “They won't use the robot if they don't feel at ease or if they feel they are being constantly watched.”

The field testing of new AI bots in this population hopes to overcome several traditional obstacles in technology use among the elderly. A study by Park shows that many older people have a fear of overt surveillance when using advanced AI. There is also ageism to consider. Most new technologies are designed with younger and employed buyers in mind, not retirees who may need help remembering daily tasks or accessing important information.

“The more older adults are excluded from technology development, the worse those technology gaps will become,” Park said. “AI and the majority of technologies are created for younger people, so my research method integrates older adults directly into the design process.”

ELARA recently collaborated with the Mamie George Community Center in Richmond, Texas, to track seniors’ response to desktop AI bots like Emo and Cupboo. Researchers also had participants use air-dry modeling clay to create their ideal robotic companion.

While the eventual AI bot may be able to help the elderly feel less isolated and more supported, there are concerns to consider. A study published in the Asian Journal of Psychology charted the development of delusional thinking in a 72-year-old woman who became convinced the empathic-response bot was in love with her. The rise of “AI psychosis” has the potential to exacerbate mental health problems, particularly in socially isolated people, which a quarter of Americans over the age of 65 are.

ELARA’s research is focused on creating “pet-like” AI models with enhanced trust cues. If it can overcome the dangers of socially isolated people relying on AI for companionship, it could be a big step forward for independent aging.

SpaceX IPO set to be biggest ever and could make Elon Musk a trillionaire

IPO News

SpaceX says it plans to raise up to $75 billion when it goes public this month, setting the stage for the largest-ever stock market debut and putting Elon Musk on course to becoming the world's first trillionaire.

The company, formally known as Space Exploration Technologies Corp., said Wednesday it will sell 555.6 million shares at $135 a piece in an initial public offering. The estimated proceeds would easily top the $26 billion raised by oil giant Saudi Aramco in 2019. The offering would also give SpaceX a market value of $1.77 trillion. Only six companies in the S&P 500 are currently worth more, with Nvidia tops at $5.2 trillion.

Besides the size of the offering and the expected proceeds, SpaceX's amended prospectus updates details about how much control of the company Musk will have. As SpaceX's CEO, chief technical officer and chairman, Musk's voting power will come primarily through his ownership of 5.22 billion Class B shares, which give the holder 10 votes for every share held. According to the filing, Musk would have 82.4% of the voting power in the company.

Forbes currently values Musk's net worth at $826 billion and his stake in SpaceX at $542 billion. The estimated value of his SpaceX holdings was based on an overall value for the company of $1.25 trillion. Based on those numbers, a $1.77 trillion valuation for SpaceX would boost Musk's net worth by $223 billion, making him a trillionaire. However, much of Musk's worth is in stock that he has yet to cash in.

Even as it makes a bid for a blockbuster market debut, SpaceX is currently losing billions of dollars a year. The filing shows that the company lost $2.6 billion from operations last year on $18.7 billion in revenue, and the losses kept piling up at the start of this year, too.

Fantastical plans

Time will tell how SpaceX fares on the market. Musk's plans for the company are as fantastical as the money he hopes raise in the sale.

Colorful, even frightening in parts, the IPO document strikes a contrast with the typically dry, technical prose in IPO documents, detailing plans to use proceeds from the sale to help put men on the moon again and perhaps even Mars. In one section, it talks of a need to build "a permanent human colony" on the red planet with "at least one million inhabitants" as existential threats loom that could consign man to "the same fate as the dinosaurs."

Musk has almost equally ambitious plans for his other publicly traded company, Tesla. His goal is to transform the maker of electric vehicles into a producer of robotaxis and humanoid robots. Dan Ives of Wedbush Securities wrote in a research note that he expects Tesla and SpaceX to merge next year.

AI plays a key role

Key to the success of both companies — and any merged entity — is artificial intelligence. In its IPO filing, SpaceX says it sees potential revenue from AI of up to $26.5 trillion. But that depends on another lofty Musk ambition — putting data centers in space, which is not technologically possible at the moment.

Transforming his space company into a primarily AI-focused company will be a challenge for Musk, who started xAI in 2023 with 11 other co-founders who have all since left. Some were recruited away by rivals.

Its main AI product, the chatbot Grok, is "less impressive than anything that we see from any other major player in the space, whether that's OpenAI, or Anthropic, or (Google's) Gemini," said IDC analyst Arnal Dayaratna.

Dayaratna said that doesn't mean SpaceX doesn't have potential as a major AI player, thanks in part to its computing partnership with Anthropic and Musk's recent deal that gave SpaceX the rights to buy AI coding tool Cursor for $60 billion later this year. Folding in Cursor's capabilities would give SpaceX access to the coveted business customers now using Anthropic's Claude or OpenAI's ChatGPT.

SpaceX plans to use the net proceeds from the IPO to fund the expansion of infrastructure for its AI and rocket businesses, and to beef up the constellation of satellites that power Starlink Mobile, among other investments.

The company plans to list on the Nasdaq under the symbol "SPCX" and could begin trading as soon as the end of next week.

And SpaceX isn't the only colossal market debut investors are now bracing for. Earlier this week, Anthropic submitted a confidential filing with the U.S. Securities and Exchange Commission to officially start its own IPO clock.

OpenAI has not yet reported filing the initial SEC paperwork, but an IPO from the ChatGPT maker is widely expected.

"This listing represents the first major test for public markets after years of muted IPO activity with SpaceX paving the way for AI giants Anthropic and OpenAI to follow soon after," Ives wrote.

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Associated Press Technology Writer Matt O'Brien contributed.

New UH survey reveals concerns over AI data center growth in Houston

data findings

A new report out of the University of Houston shows that area residents remain wary of the long-term effects of operating data centers.

The recent survey from the University of Houston’s latest SPACE City Panel, conducted by the Center for Public Policy at the Hobby School of Public Affairs, shows that while 85 percent of Houston-area residents use AI, nearly 63 percent oppose the construction of AI data centers within 1 mile of their homes.

Respondents’ concerns centered around data centers’ high energy demand and the area’s power grid reliability. According to the survey, 32 percent of residents who oppose local data center projects would be more likely to support the centers if they relied on renewable energy over fossil fuels.

“Respondents understand that AI can bring economic and educational benefits, but they are also concerned about the physical infrastructure needed to fuel AI, especially data centers,” Soran Mohtadi, post-doctoral fellow at the Hobby School and a researcher on the report, said in a news release. “This physical infrastructure demands more electricity and water, leading to environmental impacts.”

Experts estimate that 6.5 gigawatts of data center capacity will be added to the Texas grid by 2030. And Houston’s data center capacity is predicted to more than double by 2028.

The Electric Reliability Council of Texas also projects electricity demand could reach 218 gigawatts by 2031, which would be more than double the record peak set in August 2023. Data centers are expected to account for 86 gigawatts of that new demand.

Survey respondents also said they are concerned about the state's future water supply, given the large amounts of water that data centers need to stay cool.

In terms of who’s responsible for that issue, 57.6 percent of respondents said they put the onus on Texas lawmakers, while 31.5 percent say tech companies should be responsible.

Additionally, more than 75 percent of respondents believed that data center developers and technology companies—not residents—should bear the cost of infrastructure upgrades to support data centers.

“Every decision legislators make has implications on residents’ everyday lives and local infrastructure now and in the future,” Maria P. Perez Arguelles, lead researcher on the report and research assistant professor at the Hobby School, added in the news release. “This issue is going to become more important in years to come, so this is just the beginning.”

Read the full report here.