This week the build-out and the backlash moved at the same time. On the build side, QTS and Lancium committed more than $10 billion to a new campus in the Texas Panhandle, and BlackRock’s GIP and ACS launched a new developer called Coravel.
This week the numbers got bigger and the plumbing got harder. Meta confirmed that its Hyperion campus in Richland Parish, Louisiana is now a 5 gigawatt project carrying more than $50 billion of investment, nearly double the figure attached to it last fall.
This week the build-out went international while the rules tightened at home. Meta broke ground on a 1 gigawatt campus north of Edmonton, its first data center in Canada and a roughly US$9 billion bet on North American AI capacity.
This week the market showed how AI capacity is being locked up before a single server is racked. Anthropic committed to a 19 billion dollar, 20-year lease for a Kentucky campus that TeraWulf has not finished building.
Welcome to this week’s briefing. Two forces pulled hard in opposite directions over the past seven days. On one side, capital kept pouring in: a $10 billion hyperscale campus advanced through permitting in North Carolina.
Good morning, and thanks for opening this week’s briefing. If there was one theme across the past seven days, it was the bill coming due on power. Microsoft brought its first Fairwater AI campus in Wisconsin online ahead of schedule,
