Stargate is an AI data center initiative backed by OpenAI, SoftBank, and Oracle, with plans to invest $500 billion in the US over four years. The company responsible for the land and power infrastructure for the first Texas site, Lancium, is in talks with multiple tech firms to sell a minority stake.
Nvidia has expressed interest. The deal could value Lancium at between $7 billion and $10 billion including debt. Anthropic also reached out to Lancium but didn't enter formal negotiations.
Lancium primarily finds suitable land for data centers, secures grid connection permits, and builds power substations. For the Stargate Abilene, Texas campus, Lancium handles land and power infrastructure, while Crusoe builds the data centers.
What tech companies are after isn't just the land, but Lancium's already secured grid permits and power capacity — resources that allow large data centers to break ground and get electricity much faster.