Stargate, the AI data center initiative backed by OpenAI, SoftBank, and Oracle, plans to spend $500 billion in the US over four years. Lancium, the company responsible for land and power infrastructure at the first site in Texas, is now in talks to sell a minority stake to several tech firms.
Nvidia has expressed interest. The deal could value Lancium at $7 billion to $10 billion, including debt. Anthropic also approached Lancium but did not enter formal negotiations.
Lancium specializes in finding suitable land for data centers, securing grid interconnection permits, and building substations and other power facilities. At the Stargate site in Abilene, Texas, Lancium handles land and power infrastructure while Crusoe builds the data center itself.
What tech companies really want isn't just the land — it's the grid access and power capacity Lancium has already secured. Those resources let large data centers break ground and get online much faster.