2026-08-13
Fermi, a data-center and power startup co-founded by former U.S. Energy Secretary Rick Perry and energy billionaire Toby Neugebauer, signed AI cloud provider TensorWave as its first customer under a lease at the company's Project Matador campus in Texas, The Wall Street Journal reported Thursday. The agreement covers 222 megawatts of power capacity at the site and is projected to generate approximately $6.5 billion in revenue over 15 years, according to the company.
2026-08-10
Texas Pacific Land, LandBridge and EagleRock — owners of a combined 1.4 million acres in the Permian Basin — plan to lease land and sell water and construction materials to AI data-center developers, betting the region's abundant land, cheap energy and sparse population will draw projects facing opposition elsewhere. Chevron has already signed a 20-year agreement to sell electricity to a Microsoft data center in the region, with Texas Pacific supplying land for the project, according to The Wall Street Journal.
2026-07-24
Surging electricity demand from artificial-intelligence data centers has pushed construction costs for every major type of U.S. power plant more than 10% over the past year, according to Lazard's annual report on electricity-generation costs. The higher costs threaten to compound rising electricity bills as 51 investor-owned utilities plan a record $1.4 trillion in capital spending over the next five years, according to PowerLines, a consumer-education group.