Crusoe

Recent news

• Jul 17, 2026

  The AI Infrastructure Split Screen: Capital Rush Meets Community Resistance

  Data Center Frontier has published an analysis of the mid-July AI infrastructure market, combining public-market activity, project announcements, financing moves, and local permitting disputes.

  • Capital markets: Csquare priced 50 million shares at $21 to raise about $1.05 billion and implied an equity value of roughly $3.2 billion; Switch was linked to a potential $10 billion IPO and near $80 billion valuation including debt; Databricks signed a term sheet for a financing at a $188 billion valuation with the Wall Street Journal reporting about $3 billion in new investment.
  • Project and policy developments: Meta said its Hyperion expansion in Louisiana could reach 5 GW and more than $50 billion; Google was tied to a 2.7 GW Project Tembo in Wyoming; New York Gov. Kathy Hochul ordered an up-to-one-year pause on discretionary environmental permitting for certain hyperscale data centers; Palm Beach County commissioners rejected Project Tango by 5–1 after a roughly 12-hour hearing.
  • The article is a broad market commentary and synthesis, not a single original company announcement. It references multiple first-reported deals and filings, while also citing local opposition, power constraints, and community consent as central themes.
• Jul 14, 2026

  Google is customer behind 2.7GW data center campus near Cheyenne, Wyoming

  Google has revealed itself as the company behind the Project Jade data center campus near Cheyenne, Wyoming, and the project has been renamed Project Tembo.

  • The campus is planned on a 716-acre parcel eight miles south of Cheyenne in the Switchgrass Industrial Park and is described as a 2.7GW data center development.
  • The application says four data halls, an office hub, logistics and network buildings are planned, with construction slated to be completed by 2031; the site was previously associated with Crusoe, which said in June it had paused work at the request of its customer.
  • Google’s subsidiary Jupiter Star Holdings, LLC is now listed as the developer, while Tallgrass Energy said it was still building a bring-your-own power generation hub and Google’s application says it will also use energy resources from Black Hills Energy.
  • The article also notes other large Cheyenne projects from Microsoft, Meta, and Related Digital/CoreWeave for local context.
• Jul 13, 2026

  Nebraska carbon black plant set to host data center

  Monolith has announced plans to pursue zoning changes and submit an application to build a modular data center at its Olive Creek campus in Hallam, Nebraska, with Crusoe reportedly eyed as the project partner.

  • Monolith said it wants to amend Hallam’s zoning ordinance to add “data center” as an authorized use and develop a modular data center facility on about 10 acres on the northeast portion of the Olive Creek site.
  • The company said an official application is expected later this month, with hopes for full permission by September; a larger development east of the campus would come later via a separate application, and the planned units would use air-cooled units or closed-loop systems to reduce water use.
  • Monolith said the project is intended to be a better fit for the site than the originally contemplated carbon black and ammonia facility, and noted the site is near the 225MW Sheldon Power Station owned by the Nebraska Public Power District.
• Jul 10, 2026

  Crusoe Pushes Data Center AI Competition Beyond GPUs

  Crusoe has announced new managed AI platform capabilities through its Intelligence Foundry, adding serverless fine-tuning and self-service inference deployments for open-weight models.

  • Serverless Fine-Tuning and Self-Serve Deployments will be generally available next week through Crusoe Intelligence Foundry.
  • The platform supports Qwen, DeepSeek, Gemma, and GPT-OSS, schedules fine-tuning dynamically across its AI infrastructure, and returns model weights in .safetensors format for portability.
  • Inference endpoints run on Nvidia H100 and H200 GPUs without direct infrastructure provisioning.
  • Pricing will be per-million-token for fine-tuning and per GPU hour for inference deployments.
• Jul 8, 2026

  Google-linked Housebound Group files for two data center projects in Haskell, Texas

  Google-linked affiliate Housebound Group LLC has filed two new data center projects in Haskell, Texas, with TDLR.

  • Journey 1A and Journey 2A are both planned for 1362 Red Creek Road, Haskell and each is budgeted at $400 million.
  • Journey 1A began construction on April 1, 2026 and is expected to finish by late August 2027; Journey 2A began on June 23, 2026 and is targeted for late October completion. The site is described as roughly 300 acres, and the Haskell County tax abatement for the Journey site was approved in June 2025.
  • The article also references related Google-linked development in Haskell County, including the Thelma campus and another campus developed by Ascendant Site Solutions LLC; Google said in November 2025 it would invest $40 billion in Texas through 2027.
• Jul 1, 2026

  Blue Energy, GE Vernova Advance ‘Gas Bridge’ Model to Unlock Nuclear Finance

  Blue Energy and GE Vernova announced a collaborative 2.5-GW gas-plus-nuclear project planned for the Port of Victoria, Texas, and Blue Energy previously signed a strategic partnership with Crusoe to supply nuclear-powered baseload to Crusoe’s AI data center campus.

  • Main announcement: Blue Energy and GE Vernova announced a 2.5-GW collaboration (May 2026) to develop what they describe as the world’s first gas-plus-nuclear power plant at the Port of Victoria, Texas; the agreement includes a slot reservation for two GE 7HA.02 gas turbines (2029 delivery) expected to provide ~1 GW of power by 2030, with up to five BWRX-300 SMRs supporting about 1.5 GW of nuclear generation as early as 2032. The project is subject to a final investment decision in 2027 and Blue Energy plans to apply for an NRC construction permit in 2027.
  • Background & financing details: Blue Energy (founded 2023, emerged from MIT) exited stealth with a $45 million Series A and says its modular prefabrication model could reduce costs from >$10,000/kW to ~$2,000/kW (target later stated) and cut build time from ~10 years to as low as 48 months for the gas-to-nuclear sequence; Blue Energy cites ~$100 million of prior site work on the Port of Victoria tract from Exelon, and GE Vernova brings large equipment and services backlogs (e.g., $87B services backlog, $76B equipment backlog) that factor into supply-chain scaling and timing.
• Jun 30, 2026

  Stargate Update: AI’s Biggest Data Center Buildout Meets Reality

  OpenAI, SoftBank, Oracle, and MGX announced the Stargate initiative in January 2025; this article reports on its evolution, project deployments, financing friction, and operational lessons.

  • Main announcement and current actions: The Stargate consortium originally pledged up to $500 billion and up to 10 GW of compute capacity; since then concrete projects have emerged including Vantage Data Centers breaking ground on the Lighthouse campus (Port Washington, WI) in December 2025 — a $15 billion project planned to deliver four data centers totaling 902 MW IT capacity across 674 acres — and the Abilene, Texas mega-campus (≈1,100 acres) reaching energization and early deployment while reporting weather-related outages and later reports (March 2026) of scaled-back expansion tied to financing and demand assumptions.

  • Background, partners and implementation details: The Stargate model emphasizes behind-the-meter generation, co-located energy infrastructure, and phased GPU deployment; governance and financing tensions have surfaced (reported disagreements among OpenAI, Oracle, partners and revised Texas plans), Microsoft has engaged through a partnership with Crusoe to add buildings at Abilene (including reported ~900 MW related work), and Texas policy headwinds (tax incentive and permitting changes, scrutiny over water/grid impacts) are shaping future approvals and timelines.

• Jun 23, 2026

  Chevron Lands 20-Year Microsoft Deal to Power West Texas AI Campus

  Chevron and Microsoft announced a 20-year power supply agreement for Project Kilby, a planned Microsoft-operated data center campus near Pecos, Texas.

  • Main announcement: Chevron (through subsidiary Energy Forge One) and Microsoft signed a 20-year agreement to supply dedicated dispatchable power for Project Kilby, targeting approximately 2.67 GW of generation capacity built in phases with first power planned for 2028 and Chevron aiming for a final investment decision by end of 2026. Microsoft said the campus will add roughly 2 GW of data center capacity over the next 5–7 years.
  • Background and implementation details: Turbine suppliers identified include GE Vernova and Solar Turbines (a Caterpillar subsidiary); the project is sited in the Permian Basin to leverage local natural gas fuel and infrastructure. The development is expected to create more than 6,000 construction jobs and hundreds of permanent operational positions, and it formalizes talks disclosed in April into a binding long-term power agreement.
• Jun 18, 2026

  Battery Storage Moves Closer to Data Centers, but Challenges Persist

  DataBank has deployed utility-scale BESS at several data centers and connected two systems to a virtual power plant to shave peak demand and support grid operations.

  • Main action: DataBank has deployed utility-scale BESS at several data centers, with two systems connected to a virtual power plant to help utilities avoid building new generation and improve grid flexibility; Google has announced plans for a 300 MW iron-air battery at a Minnesota data center and partnered with Voltus on a 100 MW virtual power plant initiative in PJM.
  • Context and details:Peak Energy (partnering with General Motors) is developing sodium-ion batteries and claims reduced system complexity and up to 20% lifetime operational savings; operators cite cost, footprint, performance, BOS complexity, cooling, and public acceptance as primary deployment constraints, and note that BESS deployment remains requirement-driven rather than standard across new builds.
• 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.