From Yahoo Finance: 2025-05-30 17:15:00

Crusoe Energy Systems secures $11.6 billion to build a 1.2 gigawatt data center in Abilene, Texas for OpenAI as part of the $500 billion Project Stargate. Oracle signs a 15-year lease to anchor the data center, evolving from gas-powered to liquid-cooled AI supercenters in the next-gen computing realm.

The Abilene data center is a critical step in OpenAI’s infrastructure strategy, expanding to eight buildings with 1.2 gigawatts of power capacity. Construction began in June, with completion expected by mid-2026, meeting the growing demand for AI compute capacity.

JPMorgan Chase commits over $7 billion to the Abilene project, adding to the $2.3 billion investment. The expansion is part of Project Stargate, a $500 billion global AI initiative to build AI data centers and increase U.S. leadership in artificial intelligence over the next four years.

Crusoe’s Abilene campus features industry-scale performance and energy-conscious design, with each building capable of running up to 50,000 NVL72 chips from Nvidia. The project is expected to create over 5,000 jobs and generate $1 billion in local economic impact over the next two decades, positioning Crusoe at the forefront of AI infrastructure.

Founded in 2018, Crusoe raised $600 million in Series D funding, with a valuation of $2.8 billion, leading to the ambitious Abilene project. The venture solidifies Crusoe’s position in the rapidly expanding AI infrastructure race, showcasing its commitment to sustainable, high-density compute environments and industry-scale performance.



Read more at Yahoo Finance: OpenAI Secures $11.6B For Texas Data Center Expansion, Reducing Microsoft Dependence