Texas Froze a 474-Gigawatt Data Center Interconnection Queue and Nobody Cancelled a Switchgear Order
Texas stopped 250 to 300 data centers at the grid door until December 10, and the power gear behind them was already on a two-year delivery clock.
Trade-grade analysis of the AI data center buildout — hyperscaler capex, power constraints, supply-chain bottlenecks, and earnings recaps. Updated weekly.
Texas stopped 250 to 300 data centers at the grid door until December 10, and the power gear behind them was already on a two-year delivery clock.
Four compute leases in 2026, four landlords that barely existed two years ago, and rent that passes through them to Nvidia and Vertiv before a single GPU comes online.
Anthropic rented an entire company in one contract. The customer concentration discount on CoreWeave, Nebius and IREN looks different once you ask who signed.
Peter Thiel's 13F went from zero holdings to a $419M book that is 71% electricity: four Midwest utilities under the Stargate corridor, Vistra, LatAm shale, and an Amazon-plus-X-Energy nuclear pair.
Cleveland-Cliffs is the only American producer of the grain-oriented steel inside data center transformer cores, and Washington spent three years deciding whether to regulate it out of the market. Substation lead times are past 160 weeks.
Nvidia bought into three powered land developers in eight days. The 600-kilowatt Rubin rack that justifies it just slipped to 2028, and the substation orders land at Hubbell either way.
Every tracked data center project matched to the public companies with a disclosed role building it: 44 projects, 34 tickers, 171 sourced supplier links, and 16 listed suppliers on Microsoft's biggest campus alone.
SpaceX's prospectus wants 100 gigawatts of data centers in orbit every year. Musk's own math says that takes about 10,000 Starship launches, and Starship has flown thirteen times. What the plan actually needs, in radiators and rockets, and who gets paid before any of it works.
The Anthropic IPO will be the first look at what frontier AI costs to make. The company with the best margins rents its compute from a direct competitor for $15 billion a year, and Google just signed a lease with the same landlord.
CoreWeave's Q2 earnings show revenue up 112% and a net loss now smaller than the quarter's interest bill, which is the entire neocloud debate compressed into one line of the income statement.
AI's binding constraint has shifted from chips to power, and SpaceX's $1.75 trillion IPO funds the most complete response: on-site generation, an internalized xAI, a $55B chip fab, and solar-powered data centers in orbit. Until it ships, the revenue still lands on Nvidia, GE Vernova, and Vertiv.
The public companies cashing the hyperscaler capex checks, ranked by sector criticality and conviction.
A ranked snapshot of who's writing the largest checks for the AI infrastructure buildout this fiscal year, and what each commitment actually buys.
Meta, Amazon, Microsoft, and Google reset capex guidance this week. The supply-chain stocks that benefit most are not the ones investors name first.
The publicly traded infrastructure names that book Terafab orders before a single 2nm wafer ships.
The agentic-workload thesis says CPUs are the second axis of AI spend. Intel just printed the number that makes the case.
A chocolate coconut cream pie, a $60 billion option on Cursor, and a paid experiment dressed up as M&A. $10B is what SpaceX pays to find out. $60B is what the answer is worth if it comes back yes.
Two equal-weighted indices tracking the AI infrastructure buildout. One includes the hyperscalers, one doesn't. The one that doesn't is up more. Here is why that tells you something.
Oracle quietly bought 55 days of lead time on a 2.8 GW fuel-cell order while the rest of the industry is still waiting on the utility. On-site generation just crossed the bankability threshold, and the market is pricing speed-to-power as the scarce commodity.
CoreWeave ($CRWV) spent years as Microsoft's GPU farm. [Microsoft represented 62%](https://www.cnbc.com/2025/05/01/coreweave-stock-surges-after-microsoft-sticks-to-spending-plans.html) of CoreWeave…
A Dutch ex-Yandex spinout just signed $46B in 30 days. Meet the neocloud category through its cleanest expression: NBIS.
The data center infrastructure buildout hit another gear this week, with the equal-weighted basket surging on the back of **Amazon's** bombshell **$200B** capex guidance for 2026 and **Meta's** surpri
Amazon leads with $200B+ in forward guidance, but the real story is the mid-cap surge. Here is what the numbers say about where infrastructure dollars are flowing.
Interconnection queues are growing faster than capacity. The data shows a critical gap between planned data center capacity and available power infrastructure.