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NEWS ROUNDUP

DEVELOPMENT: NextEra and Brookfield plan $100B+ campus. NextEra Energy and Brookfield are planning a more than $100 billion redevelopment of a former uranium-enrichment site in Paducah, Kentucky, into a major data center and power generation campus. Brookfield will develop and operate a 1.8GW data center campus on portions of the 3,556-acre federal site, while the broader project is expected to include 2 gigawatts of natural gas-fired generation and up to 2.6GW of battery storage. The privately funded development is expected to create about 8,000 construction jobs and 600 permanent positions, with completion targeted for 2031.

GRID: PJM proposes emergency measures to protect grid reliability. PJM Interconnection has outlined a new plan that could require large data center loads to bear more of the cost of securing additional power capacity, as the 13-state grid operator works to prevent blackouts and shield existing customers from rising electricity bills. PJM Board Chair Paula Conboy said the current combination of rapid demand growth, tightening supply and higher capacity costs is unsustainable, arguing that existing customers should not have to pay for new large loads that fail to bring or contract for sufficient generation. The proposal could take effect as early as mid-2027 and follows plans for a September emergency power auction aimed at addressing a projected nearly 7-gigawatt shortage after June 2028.

MARKET: Equinix raises revenue outlook and development spending. Equinix reported strong second-quarter results, with revenue up 16% year over year and bookings rising more than 30%, largely driven by AI workloads. CEO Adaire Fox-Martin said the company has raised its 2026 revenue growth outlook to 12% and now expects annual growth of 10 to 13% from 2027 through 2029, calling it the largest guidance increase in Equinix’s history. The company also sharply increased planned capital spending, with 2026 development expenditures now expected to reach as much as $6 billion and annual spending of $5 billion to $7 billion anticipated from 2027 through 2029.

FINANCING: Nvidia reportedly commits to $19.6 billion Texas data center lease. Nvidia has reportedly been identified as the tenant behind two 15-year leases at Hut 8’s Beacon Point data center campus in Nueces County, Texas, representing $19.6 billion in base-term contract value and potentially as much as $50.2 billion if all renewal options are exercised. The 525-acre campus has 1 gigawatt of secured utility capacity through AEP Texas and is being designed around Nvidia’s DSX architecture for large-scale AI factories. The leases cover infrastructure that could ultimately support Nvidia itself and potentially its neocloud partners, further expanding the company’s role from chip supplier to a more direct participant in AI infrastructure deployment. Hut 8 expects the site to begin energizing in the first quarter of 2027, with additional capacity following in 2028.

READ: Why Google’s $205 billion AI spending plan sparked Wall Street turmoil.

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