AI Deals and Infrastructure Expansion
CoreWeave is making headlines with some recent developments. First, Meta committed an additional $21 billion in GPU-backed cloud capacity from the company through 2032, stacked on top of a prior $14.2 billion agreement. Next, CoreWeave announced a separate multi-year compute deal with Anthropic for Nvidia GPU capacity across US data centers – financial terms undisclosed. The neocloud is also raising $4.25 billion in convertible and senior notes to keep pace with its buildout.
Meta is also going deeper on silicon, expanding a multi-year partnership with Broadcom to co-develop multiple generations of its MTIA custom AI chips through 2029 on a 2nm process – the first AI silicon to hit that node. Meanwhile, Microsoft has contracted over 30,000 Nvidia Rubin GPUs from Nscale at a 230MW campus in Kvandal, Norway, filling a gap left by OpenAI, which failed to finalize commercial terms at the site and has separately paused its UK Stargate project over energy costs and regulatory friction.
On a stranger note, sustainable footwear brand Allbirds announced a pivot to GPU-as-a-Service, securing $50 million in convertible financing and rebranding as NewBird AI. The AI infrastructure boom continues to pull in unlikely converts.
Connectivity Shifts
Amazon made the most consequential connectivity move of the period, agreeing to acquire satellite company Globalstar for $11.57 billion. The deal adds spectrum, satellite assets, and direct-to-device capabilities to Amazon Leo's growing LEO network, while a separate agreement with Apple keeps iPhone and Apple Watch’s Globalstar satellite features running smoothly.
On the enterprise side, AWS has tapped Lumen Technologies for last-mile connectivity, making Lumen the first provider to deliver private connections between enterprise environments and AWS via its own metro infrastructure. Meanwhile, Orange and Nokia are collaborating on AI-RAN development backed by Nvidia infrastructure, focusing on GPU-powered radio processing and tighter AI integration to improve performance and enable new services.
Energy Procurement and Grid Pressure
Oracle has expanded its fuel cell agreement with Bloom Energy to 2.8GW of solid oxide capacity, up from an initial 1.2GW, reinforcing fuel cells as a serious behind-the-meter option for operators navigating grid constraints.
At the same time, Amazon continues to set the pace on renewables, signing nine new PPAs in Australia totaling 430MW – including its first solar-plus-storage deals outside the US, according to The Guardian – while retaining its title as Europe's largest corporate renewables buyer with over 10GW contracted across the region. Less flattering: Amazon's board is pushing back on a shareholder proposal seeking greater climate-related disclosure around its data center expansion.
On the grid side, PJM Interconnection is targeting up to 15GW of new generation through an emergency capacity auction as the US's largest RTO grapples with a potential 60GW supply shortfall – driven in no small part by surging data center demand.
Policy Pushback and US Expansion
Maine has become the first US state to pass a statewide data center moratorium, pausing new developments over 20MW until November 2027 while a newly formed coordination council studies impacts on the grid, water supply, and local communities. The bill heads to Governor Janet Mills' desk as eleven other states are reportedly weighing similar measures.
The US buildout, meanwhile, is showing no signs of slowing down. AWS has scaled its Mississippi investment to $25 billion – more than double a projection from two years ago – while Google has taken over the long-disputed Project Maize site in Michigan City, Indiana, committing $832 million to a building that’s been vacant for over 15 years. In Georgia, Prologis' 900MW Project Sail has been approved in Coweta County, greenlighting a nine-building campus near Newnan despite sustained local opposition. Aligned has also broken ground on a 540MW campus in Hale County, Texas.
Speaking of Texas, according to Synergy Research Group, Texas and Midwestern states now account for 33% of US hyperscale capacity and are projected to represent 53% of new builds, with power availability the primary draw. On the modularity front, AWS is piloting "Project Houdini" – a prefabricated modular construction initiative targeting a reduction in data hall readiness from 15 weeks to as little as 2–3 weeks.
Not every project is moving without friction. Granbury, Texas residents have sued the city over the rezoning of 2,100 acres for a data center power plant, alleging officials concealed information and violated the Texas Open Meetings Act. At the same time, the NAACP has officially launched a lawsuit against xAI, alleging that 27 methane gas turbines powering its Colossus 2 facility in South Memphis are being operated in violation of the Clean Air Act.
Global Data Center Development
Europe's pipeline continues to fill up. Volt has announced an enormous 800MW AI gigafactory in Rotterdam, Netherlands, backed by the Dutch government and intended to run on North Sea wind. It’s part of the EU's push to deploy supercomputing clusters across the continent. VIRTUS has broken ground on a 204MW hyperscale campus outside Berlin, one of Germany's largest planned data center developments, while Central Energy Group has announced a €3 billion, 260MW AI data center in Konin, Poland, with construction expected in 2027.
On the policy front, Portugal has approved a National Data Center Plan with a 2026–2027 action plan designed to streamline development and attract major investors. In Asia-Pacific, Digital Realty has pledged nearly S$7 billion in Singapore, including over S$4.3 billion earmarked for new builds.