Crusoe

Recent news

• Jun 10, 2026

  GM Bets on Sodium-Ion Batteries, Expands Grid Storage and V2G Plans

  General Motors has announced an expansion into grid-scale energy storage, including a partnership with Peak Energy to develop sodium-ion battery systems, imminent LFP cell production with LG Energy Solution, second-life battery deployments, and scaled V2G programmes with utilities.

  • Partnership & production: GM is partnering with Peak Energy to develop sodium-ion grid-scale battery systems with development at its battery R&D centre in Warren, Michigan; GM and LG Energy Solution will begin producing Ultium-branded LFP cells within the next month to support lower-cost storage applications.
  • Deployments & timelines: GM and Redwood Materials have integrated around 10,000 second-life GM battery packs into energy systems (including at Crusoe’s AI data centre in Nevada); GM will install about 100 second-life battery packs at a Michigan manufacturing facility starting next year (providing 7.2 MWh and projected to generate more than USD 3 million in electricity savings over its lifetime). The company is working with PG&E on a programme that could involve 130,000 GM EVs by 2030 and is conducting V2G trials with DTE Energy.
• Jun 10, 2026

  Behind-the-meter data center gas plants will raise US energy bills

  Energy Innovation authors Jeffrey Rissman and Eric Gimon argue that data centers building on-site natural-gas power plants will raise energy prices for U.S. households and businesses and that policymakers should require data centers to supply their own clean on-site electricity.

  • Main announcement/action: The authors call for a “bring your own clean energy” mandate so data centers do not rely on on-site natural-gas plants; they cite concrete capacity examples including a Richland Parish, LA facility using ~2.2 GW, a Cheyenne-area project with a 1.8 GW first phase designed to scale to 10 GW, and a BloombergNEF finding that ~100 GW of on-site gas capacity is planned for U.S. data centers. The piece urges that data centers instead deploy wind/solar + batteries and enhanced geothermal to provide firm, fuel-free power.
  • Background and supporting details: The article documents that combined-cycle gas turbines are back-ordered 5–7 years, forcing use of inefficient turbines that increase pollution (citing an xAI Clean Air Act lawsuit), and describes policy tools to implement the proposal including “permit-by-rule”, pre-authorized renewable zones (Texas CREZ, Nevada Solar Energy Zones, Arizona Renewable Energy Incentive Districts), and mentions state laws that streamline permitting (Michigan HB 5120, Illinois HB 4412). It also gives examples of companies already using clean on-site supply (Google: 1.6 GW wind+solar with 300 MW battery; Amazon: 1.2 GW solar + equal battery storage).
• Jun 8, 2026

  The AI Demand Dilemma: Utilities Confront Speculative Growth

  Utilities across the US are rewriting tariffs, demanding financial guarantees, and altering transmission and procurement plans to avoid building infrastructure for speculative AI-related data center load requests.

  • Main action: Utilities (notably AEP and Duke Energy) are tightening large-load rules and requiring financial commitments to move projects forward: AEP winnowed more than 30 GW of preliminary requests to ~13 GW for formal studies and 5.6 GW with signed Electric Service Agreements; AEP proposed requiring customers to commit to paying for 90% of requested capacity for a decade before the utility builds supporting infrastructure. These measures include specialized large-load tariffs, collateral/minimum-usage guarantees, and phased energization schedules to limit ratepayer exposure.
  • Background and implementation details: Regulators and reliability bodies (NERC, ERCOT, FERC) are developing new categories and study frameworks (e.g., Computational Load Entity, batch study processes) and reliability guidance. Utilities are expanding financing and procurement: Duke extended a $10 billion master credit facility through 2031 and raised its five-year capital plan to $103 billion; AEP raised its five-year capital plan to $78 billion. Industry forecasts and planning estimates include Wood Mackenzie projecting the US data center electrical equipment market could grow to $65 billion by 2030, and Grid Strategies/ACEG estimating roughly 5,000 miles of new high-capacity transmission annually through 2035 (fewer than 1,000 miles built in 2024).
• May 27, 2026

  Texas May Have Accidentally Built the Perfect Grid for AI

  ERCOT and industry filings show CREZ-era West Texas transmission corridors are increasingly guiding hyperscale AI campus siting as developers seek bulk power and expandable transmission capacity.

  • Main announcement/action: Galaxy Digital’s Helios campus (previously an Argo Blockchain site) has ERCOT approval for an additional 830 MW, bringing total approved load above 1.6 GW after completion of Large Load Interconnection Studies (LLIS); the project has service agreements with AEP Texas and transmission coordination with WETT, but current physical deployment is phased (initial lease: 133 MW to CoreWeave).
  • Background and details: Filing documents indicate a 327.2 MW self-generator registration (backup power) including 121 Caterpillar diesel generators tied to roughly 252 MW of emergency generation, a currently identified 200 MW co-located load, and broader system context where ERCOT’s large-load queue has ballooned above ~230 GW and industry reports cite transformer shortages (~30%), multi-year lead times, and average global power-delivery timelines of ~4.4 years.
• May 22, 2026

  Texas Powers Past Virginia in Global Data Center Rankings

  Cushman & Wakefield has announced Dallas as the No.1 primary data center market globally in its latest Global Data Center Market Comparison report.

  • Main announcement: The report ranks Dallas as the No. 1 primary data center market, followed by Atlanta, Virginia, Columbus, and Johor, and reports capacity under construction ~31.7 GW (2025) versus 12.5 GW in the prior edition; the study examined 107 global markets using 24 variables and places greater emphasis on near- and mid-term scalability and power constraints.
  • Background and details: Cushman highlights power delivery timelines (~5 years in Americas/EMEA, ~2.7 years in APAC) and the shift to bring-your-own-power/on-site generation; firms and projects cited include OpenAI, Oracle, SoftBank’s Stargate (Abilene/West Texas), Meta (El Paso), Google (pledged $40 billion in US infrastructure investment) and Soluna; the note also contrasts Northern Virginia, Frankfurt, London, Amsterdam, and Dublin as markets facing tighter utility and transmission constraints while Texas/ERCOT offers more developable land and generation/transmission pipeline.
• May 19, 2026

  Does Google’s $5B TPU Deal Signal a New Neocloud Era?

  Blackstone and Google have announced a new US-based AI infrastructure venture built around Google’s Tensor Processing Units (TPUs).

  • Main announcement: The venture will provide data center capacity, networking, operations, and Google Cloud TPUs as a compute-as-a-service offering; Blackstone committed $5 billion in initial equity, and the partners plan to bring 500 MW of capacity online in 2027. Benjamin Treynor Sloss (longtime Google infrastructure executive) will lead the company as CEO.
  • Background and details: The deal structure separates TPU infrastructure from the traditional hyperscale cloud model and echoes the neocloud trend (players like CoreWeave, Crusoe, Lambda). Reuters reported the broader venture could involve up to $25 billion including leveraged financing. Locations and power sourcing for facilities were not disclosed.
• May 14, 2026

  Gridlock or Growth? ERCOT Warns Texas AI Power Boom May Not Materialize

  The Electric Reliability Council of Texas (ERCOT) filed a long-term load forecast to the Public Utility Commission of Texas projecting very large future demand but warning much of it may not materialize on schedule.

  • Main announcement: ERCOT submitted an April 2026 long-term load forecast projecting statewide peak demand could reach nearly 368 GW by 2032 (compared with the current record 85.5 GW), while explicitly stating concerns with using preliminary load forecast values and reserving the right to adjust forecasts based on “actual historical realization rates or other independent information.”
  • Background and detail: The filing reports ERCOT applied an internal realization factor (average peak consumption per site = 49.8% of requested MW) to some non-crypto data center additions, projects non-crypto data center load of ~228 GW by 2032, and expects summer 2026 peak between ~90.5 GW and 98 GW (versus a preliminary 112 GW figure). The filing is a regulatory submission (filing) and functions as a capacity/planning signal rather than a confirmation that proposed projects will be energized on forecast timelines.
• May 1, 2026

  Scenes from the great data center revolt

  Andy Patrizio reports growing community and political pushback against multiple proposed data center projects across the United States.

  • Widespread local opposition and legal/political actions: Multiple communities have moved from passive concern to active resistance, including a recall of four Festus, Missouri city council members after approval of a $6 billion, 360-acre data center proposal; a citizens’ lawsuit in Hermantown, Minnesota to block a $1.5 billion Google “Project Loon” site; and a coalition in Pennsylvania seeking a three-year moratorium plus legislation (HB 2150, HB 1834, HB 2151) requiring reporting on energy/water use, banning cost-shifting to residents, and a model zoning ordinance.
  • Project specifics and mitigations for two large developments: In Box Elder County, Utah, a Kevin O’Leary–backed hyperscale campus on 40,000 acres plans an initial ~3 GW power need and up to 9 GW at full buildout with on-site power via the Ruby Pipeline (MIDA says “100% of the power will be generated off the Ruby Pipeline”); Wyoming’s Project Jade expanded from 1.8 GW to 2.7 GW (designer says theoretically up to 10 GW) and proposes closed-loop water cooling with initial fill equivalent to ~20 households and ongoing use equivalent to <3 households per year.
• Apr 23, 2026

  Rethinking Load Growth: New Partnerships Between Power Developers and Midstream Natural Gas Companies

  Freddie Sarhan, CEO of Sapphire Technologies, argues that recovered energy from natural gas infrastructure (pressure drop and waste-heat recovery) is a commercially viable, fast-deploying source of clean, baseload-like power that can help meet accelerated load growth.

  • Main announcement/action: The commentary urges developers and utilities to pursue turboexpander and waste-heat-to-power projects at existing pipeline regulating facilities and compressor stations, noting an analysis identifying more than 3,500 regulating facilities with suitable flow regimes for power recovery, eligibility for the Section 48E clean electricity investment tax credit (via the One Big Beautiful Bill, 2025), and deployment timelines measured in months rather than years.
  • Background and supporting details: The piece cites sharply rising demand forecasts — five-year utility peak load growth increased from 24 GW to 166 GW through 2030 and data center demand could reach 176 GW by 2035 — plus system constraints (average 10-year transmission project timelines; an ~2,600 GW interconnection queue). It also references ATTs increasing transmission capacity by 10%–30% and that advanced conductors could save $85 billion in system costs by 2035, while states including Virginia, Minnesota, Colorado, and Maine are requiring ATT evaluations in IRPs.
• Apr 21, 2026

  Meta reserves up to 100GWh of US ‘multi-day’ energy storage startup Noon Energy’s technology

  Noon Energy has announced an agreement with Meta to reserve up to 1GW/100GWh of long-duration energy storage (LDES) capacity.

  • Main announcement: Noon Energy will start the collaboration with a 25MW/2.5GWh project scheduled for completion by 2028, and, following the initial project’s success, will begin deliveries under a 1GW/100GWh supply contract with Meta; Noon said it will begin developing the 25MW/2.5GWh project soon but did not provide a detailed timeline beyond the 2028 completion target.
  • Background and technical details: Noon’s system is built around reversible solid oxide fuel cell (SOFC) technology with separate charge and discharge tanks (decoupling power and energy); the company has an operational demonstration it claims is capable of 200 hours of discharge and the article references other LDES deals and pilots (Form Energy, Energy Dome, Google, Xcel Energy, Crusoe) as context.
• Apr 21, 2026

  Microsoft Builds for Two Worlds: Sovereign Cloud and AI Factories

  Microsoft is accelerating hyperscale data center and AI factory expansion, leasing and acquiring capacity in Texas and Norway, acquiring land in Cheyenne, and investing in Fairwater and other campuses.

  • Primary action: Microsoft is leasing and acquiring premium AI capacity (e.g., a roughly 700-megawatt Abilene, Texas project and capacity in Narvik, Norway), acquiring ~3,200 acres in Cheyenne for future data center development, and advancing its Fairwater campus investments (initial and second-phase commitments totaling >$7 billion in Wisconsin). These moves are announced as concrete transactions and site plans (leases, land intent to acquire, and campus construction timelines).
  • Background and details: The company reported record quarterly capex of $37.5 billion (Jan 2026 cycle) with a $625 billion cloud backlog (about 45% tied to OpenAI), committed $3.3 billion to Fairwater phase 1 and $4 billion to phase 2, and is deploying 30,000 Nvidia Vera Rubin chips in Narvik building on a prior $6.2 billion regional commitment. Microsoft also pledged a “community-first” approach: paying full utility costs, replenishing more data center water than consumed, and publishing region-level water data.
• Apr 20, 2026

  BYOP Moves to the Center of Data Center Strategy

  Data Center Frontier analyzes the growing adoption of “bring your own power” (BYOP) strategies by data center developers and hyperscalers.

  • Main finding: BYOP (onsite natural gas, modular fuel cells, co-located plants, and future advanced nuclear) is being adopted to accelerate energization, reduce grid-related costs, and close the time-to-power gap; modeling from Camus, Encoord, and Princeton’s ZERO Lab suggests a 500 MW data center using a hybrid approach could reach full operation 3–5 years faster and reduce grid-related costs by roughly $78 million per GW.
  • Context and examples: Live projects and corporate moves illustrate implementation: Crusoe + Engine No. 1 JV expected to draw on roughly 4.5 GW; Crusoe ordered 29 LM2500XPRESS units (~1 GW); Meta El Paso includes 366 MW behind-the-meter gas; xAI received approval for 41 turbines (1.2 GW) in Mississippi. The article documents permitting, equipment orders, turbine backlog pressures (GE Vernova ~80 GW backlog), and regulatory/community scrutiny (El Paso, Memphis/Southaven, PJM).
• Apr 16, 2026

  Blue Owl Builds a Capital Platform for the Hyperscale AI Era

  Blue Owl announced the final close of Digital Infrastructure Fund III at $7 billion and is repositioning itself as a capital platform for hyperscale and AI infrastructure.

  • Main announcement: Blue Owl completed a $7 billion final close of Digital Infrastructure Fund III (hard cap), nearly doubling its original $4 billion target; the fund will develop, acquire, and own data centers and connectivity assets, focusing on large-scale build-to-suit projects for hyperscalers. The firm integrated IPI Partners (closed Jan 6, 2025, bringing >$11 billion AUM) and installed Matt A’Hearn as head of digital infrastructure to support the expansion.
  • Background and details: Blue Owl has entered multiple structures including a Meta joint venture (Hyperion) where Blue Owl-managed funds hold 80% and Meta 20%, with ~$27 billion estimated development costs (Blue Owl contributed roughly $7 billion cash; Meta received a one-time distribution of ~$3 billion); the firm also announced a QIA partnership (launched with >$3 billion initial assets) and backed projects like the Abilene campus (1.2 GW initial, potential ~2.1 GW with Microsoft additions; second phase construction began March 2025 with initial energization expected mid-2026).
• Apr 14, 2026

  Data centers are moving inland, away from some traditional locations

  Synergy Research Group and Sightline Climate reported a geographic shift and widescale delays in U.S. data center construction.

  • Main announcement:Synergy Research Group finds the planning and build “center of gravity” for data centers is moving inland to Texas and Midwestern states (Wisconsin, Indiana, Michigan, Missouri). Sightline Climate reports 16 GW of data centers slated to open in the U.S. this year but only 5 GW are under construction now and expects 30–50% of projects to be delayed; 25 GW are announced for 2027 with only 6 GW under construction.
  • Background and details: Delays are driven by component shortages (memory, storage, batteries, electrical transformers, circuit breakers) and local opposition (e.g., the Seminole Nation banning data centers on tribal lands). Major cloud and AI firms named as project sponsors include Amazon, Google, Meta, Microsoft, OpenAI, and CoreWeave. The article also references Pennsylvania’s $70 billion push for data centers and notes many 2028–2032 projects have not broken ground.