Data Center View - October 12, 2026 - Loudoun County tables bill to strip approvals from 15 data center projects

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NEWS ROUNDUP

LEGISLATION: Loudoun County tables bill to strip approvals from 15 data center projects. Loudoun County supervisors have tabled a bill that would have stripped by-right zoning approval from 15 legacy data center projects totaling about 10.5 million SF across 30 buildings. The projects include Digital Realty's seven-building Digital Dulles expansion, which would bring that campus to 7.8 million SF. A county staff report estimated the rollback could expose the county to as much as $60 million in liability from developer lawsuits.

DEVELOPMENT: Glendale commission backs rezoning for Takanock's 160-acre campus near Phoenix. The Glendale Planning Commission has voted 4-2 to recommend rezoning for a 160-acre data center campus proposed by Michigan-based developer Takanock in the West Valley near Phoenix, sending the project to the city council. The project, called Project Eagle, includes three 330,000-SF data centers and 18 natural gas turbines for on-site power near Luke Air Force Base. Residents have organized against the project over water use, noise and air quality.

LEASING: Oracle seeks to delay full rent on Stack's 2.4GW New Mexico campus. Oracle has sent a force majeure notice to Stack Infrastructure, which is owned by Blue Owl Capital, seeking to delay full rent payments on the 1,400-acre, 2.4GW Project Jupiter data center campus in New Mexico. If the opening slips and both sides agree the cause was beyond their control, the clause could let Oracle push back full rent for three years. Blue Owl put $3 billion of equity into the project and secured an $18 billion debt commitment from a group of banks.

FINANCING: Nvidia asks insurers to cover loan losses for neocloud tenants. Nvidia is pitching structures in which insurers would cover losses on loans that neoclouds take out to buy its GPUs. Insurers would compensate lenders if a neocloud defaults and the chips securing the loan can't be resold for enough to repay the debt, and Nvidia is working with insurance broker Howden Re on the structure. Nvidia CEO Jensen Huang has argued that chips have long useful lives and should be treated as an investable asset class.

READ: Data center developers weigh faster power against PJM curtailment requirements.

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