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NEWS ROUNDUP

DEVELOPMENT: CyrusOne breaks ground on new Texas campus. CyrusOne has broken ground on a new data center campus in Freestone County, Texas. While the company has not disclosed full details of the development, the project follows two previously announced agreements with Constellation totaling 760MW of power capacity to support the campus adjacent to the Calpine-operated Freestone Energy Center. The 1GW natural gas-fired combined-cycle facility, situated on roughly 506 acres near Fairfield, received regulatory approval earlier this year to colocate a data center.

FINANCING: Google backs $3.2 billion campus. Google is expanding its push into custom AI chips by backing the Lake Mariner AI data center project in western New York with a $3.2 billion financial guarantee. According to reports, the facility’s developers will lease computing capacity powered by thousands of Google Tensor Processing Units (TPUs) to Anthropic, marking another step in Google’s effort to commercialize its proprietary AI hardware beyond internal workloads.

DEVELOPMENT: Applied Digital lands 15-year hyperscale lease. Applied Digital has signed a 15-year take-or-pay lease with a U.S.-based investment-grade hyperscaler for 210MW of critical IT capacity at its Delta Forge 2 AI Factory campus, marking the company’s fifth AI-focused data center campus. The agreement is expected to generate approximately $5.2 billion in contracted revenue during the initial term and up to $12.7 billion if all renewal options are exercised over 30 years. Wes Cummins, Chairman and CEO of Applied Digital, said the lease validates the company’s “franchise model,” which replicates its design, construction, and operations teams across multiple campuses to support hyperscale demand.

FINANCING: CorScale secures $975 million financing for fully leased Virginia data center. CorScale Data Centers and Affinius Capital have secured $975 million in balance sheet financing from Blue Owl for Project Helios, a newly completed data center in Prince William County, Virginia. The financing was arranged by Newmark for the joint venture and supports a facility that is 100% leased to a leading investment-grade cloud service provider under a long-term agreement. Christopher Kramer, Vice Chairman at Newmark, said the transaction highlights continued institutional demand for high-quality digital infrastructure in Northern Virginia, citing the region’s connectivity, scale, and concentration of hyperscale users.

READ: Gov. Pritzker slows down data center development.

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