Category
Investment
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GridLock: Why Hyperscalers Are Buying Their Own Substations
While tech giants pour billions into advanced AI chips, their multi-gigawatt growth roadmaps are stalling at the local power grid. To survive the infrastructure crunch, cloud operators are transforming into heavy industrial procurement giants buying up transformer supply lines and building their own utility-scale substations.
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AI Data Center Debt Just Got More Expensive, Meta’s Own Bond Sale Proves It
Bloomberg reports AI data center debt yields are climbing across the market, with Meta’s $12.5 billion El Paso bond offering pricing at a materially higher risk premium than a nearly identical deal from a year earlier
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Nordic AI Campus Moves From Paper to Steel
3E Network’s Finnish subsidiary, Aurora Core Technology, entered active construction on a green-powered AI data center project this week — a milestone increasingly hard to reach given how many announced campuses stall at the permitting stage
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Cornelis Networks to Build Fabric that Keeps GPUs From Sitting Idle
Cornelis Networks raised $205 million and unveiled Active Compute Fabric, a scale-up interconnect built on open UALink and ESUN standards a direct challenge to Nvidia’s grip on GPU-to-GPU networking
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California Just Made Data Centers Pay Their Own Grid Bill
Newsom signed seven laws forcing data centers to cover their own grid upgrade costs – but wrote no megawatt trigger, no dollar figure, and no filing deadline into any of them
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Arete Research Puts a Number on the AI Capex Bubble Question
Hyperscaler AI spending is reaching unprecedented levels, but the bigger question is how it will be financed. New estimates point to a $600 billion funding gap through 2028, putting debt, equity and alternative financing under greater scrutiny.
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Blackstone’s Flow Control Buy Is a Bet on the Pipes, Not the Chips
Blackstone’s acquisition of Flow Control Holdings highlights the growing investment in the hardware beneath AI cooling, from valves and manifolds to coolant distribution components powering high-density data centres.
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SRP’s $1.7B Marigold Bet Signals a New Utility Playbook: Renewables First, Gas as Ballast
Salt River projects board didnt just approve a power plant – it approved a template The 1,675-megawatt Marigold Energy Center in Stanfield, Arizona pairs 600 MW of solar and 400 MW of eight-hour battery storage with 675 MW of natural gas, all behind a dedicated 230kV/500kV substation. It cleared the board just two months after…