Data Center View - October 28, 2026 - First Project Jupiter building tops out in New Mexico

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NEWS ROUNDUP

DEVELOPMENT: First Project Jupiter building tops out in New Mexico. Clayco and Kiewit have completed the structural framework of the first 855,000-SF building at Stack Infrastructure and Oracle’s Project Jupiter campus in Doña Ana County, New Mexico. The broader development calls for four data center buildings on about 1,400 acres, with Oracle set to host AI infrastructure for OpenAI. Clayco construction and compute president Ryan McGuire highlighted the first building’s topping-out milestone. The milestone marks structural progress, with fit-out and commissioning still ahead.

DEVELOPMENT: Developer files plans for 520MW data center campus in Eatonton, Georgia. Eatonton 379 LLC has filed for regional review of an approximately 543-acre data center development along Glenwood Springs Road in Putnam County, Georgia. The October 26 filing describes roughly 11 buildings totaling 3.5 million SF and targets completion in 2031. A supplemental filing estimates electricity demand at about 520MW and identifies Tri-County EMC or Georgia Power as potential suppliers. The developer also anticipates substations and discussions with Eatonton about on-site generation. The filing represents a proposal; it does not establish approval or secured power.

FINANCING: Crusoe secures $700M facility for AI data center power equipment. Crusoe and Neuberger Specialty Finance have arranged a $700 million financing facility secured by recently ordered power-generation equipment. The funding will support gas generators providing behind-the-meter power to data centers Crusoe builds and owns. Nick Sammut, Crusoe’s senior vice president of strategic finance and corporate development, said the structure lets the company secure long-lead equipment around its development schedules. The transaction follows Crusoe’s September $3.9 billion Series F; the new facility finances power infrastructure rather than another equity round.

ENERGY: Microsoft signs 20-year NiSource power agreement for northwest Indiana campus. NiSource has signed a 20-year energy agreement for Microsoft’s northwest Indiana data center campus, with service expected to start in 2028. Microsoft will fund the generation and transmission needed for its load, while NiSource’s GenCo resource pool is set to gain about 1,100MW of generation. GenCo also contracted 600MW of battery storage for its broader pool serving multiple large-load customers. CEO Lloyd Yates said the model aims to protect existing customers. The 1,100MW figure describes generation resources, not disclosed campus IT capacity.

READ: Dell’Oro: Data center physical infrastructure revenue grew 27% to $14B in Q2 2026.

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