❯ Nvidia Agrees to Invest $2 Billion in Lancium, Stargate’s Power Supplier, With Another $1 Billion After Milestones

SOCKET BUYAccording to The Information, Nvidia has agreed to invest $2 billion in Lancium, a power infrastructure developer, and has committed to adding another $1 billion once Lancium secures more planned power capacity. Lancium is the power supplier for the Stargate campus in Abilene, Texas; the deal values the company—along with its land and grid interconnection portfolio—at an enterprise value of roughly $10 billion (including debt).

CAMPUS CONTEXTAbilene is Stargate’s first site, with total power capacity of 1.2GW. Previously, Crusoe added 4.5GW of natural-gas generation, and Blackstone has committed to investing more than $500 million. Stargate was launched by OpenAI, Oracle, and SoftBank in January 2025, with planned investment of between $100 billion and $500 billion. Historically, Nvidia’s money has mostly gone to compute clouds downstream of its chips; this time it is buying directly into the power generation and grid interconnection layer.

NOT JUST GPUSChip companies putting money into power companies signals that GPUs are no longer the only bottleneck. Emerging compute-cloud vendors are no longer competing over whether they can get GPU quotas, but over whether they hold approved grid interconnection capacity. For Nvidia itself, this $3 billion buys a landing spot for next-generation chips—no matter how many chips you have, without grid interconnection capacity they can’t be installed in data centers.

▪ SIGNALNvidia put its money at the socket end.