This month’s focus cut through the noise of massive AI announcements to zero in on a single, hard truth: securing power is now the primary currency. The AI bottleneck hasn’t been silicon for a while. Today, hyperscalers are limited by electrons. From Meta’s blank-check strategy to Jensen Huang’s direct warning to utilities, I break down how the smart money is moving from compute to capacity.
📘 Your Top Substack Reads from April
SoftBank’s 10 GW Ohio Moonshot: The Biggest Bet in AI Infrastructure History — and the Hardest to Build
9.2 GW of gas generation sounds transformational. It also requires 18–36 large-frame gas turbines that don’t exist in anyone’s delivery queue.
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Jensen Huang Just Told Every Utility CEO They’re Overbuilding the Grid for the Wrong Customer
The five nines trap is locking up 100 GW of available capacity. NVIDIA’s fix starts at the chip, not the substation.
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7.5 GW and a Blank Check: Meta Just Showed the World What AI Power Procurement Actually Looks Like
Meta just committed to 10 gas-fired power plants and 7.5 gigawatts of dispatchable generation in Louisiana. It’s not behind the meter. And that distinction changes everything.
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⚡ April Deal & Market Highlights
Meta Secures $3 Billion for Ohio Data Center Campus with On-Site Natural Gas Power
The novel financing package covers both the buildings AND the power assets for “Project Walleye” (though behind-the-meter alone still can’t match the grid’s long-term scale and reliability).
Crusoe Announces 900 MW AI Factory Campus in Abilene, Texas for Microsoft
Crusoe’s total Abilene capacity now reaches 2.1 gigawatts, built with integrated on-site dispatchable generation.
Microsoft Secures $17B Data Center in Coweta County, Georgia
A massive hyperscale win for the Southeast, proving that non-traditional markets with cheap gas and fast transmission access are now competing head-to-head for AI load.
ERCOT Faces Potential 79% Wholesale Price Spike by 2027
New EIA analysis warns that surging data center demand could push prices from $47.39/MWh to $84.80/MWh.
Amazon Web Services (AWS) Expands Mississippi Bet to $25 Billion
AWS more than doubled its commitment in the state, signaling that Mississippi solved for permitting speed and power availability at scale.
That’s the April wrap. See you next month for more Electric Buzz highlights.
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