News & Updates
The latest news and updates from companies in the WLTH portfolio.
PROENERGY To Deliver Major Generating Equipment To Power Crusoe AI Factories
The PROENERGY PE6000 aeroderivative engine generates 50 MW of fast-start power on demand and operates on multiple fuels, making it a versatile choice for any fast-start application. 650-MW Power Generation Equipment Solution Includes 13x PE6000 Units Delivered by Summer 2027 SEDALIA, Mo., April 16, 2026 /PRNewswire/ -- PROENERGY announced today a contract to deliver a manufactured equipment solution for Crusoe, a vertically integrated AI infrastructure provider. The solution features 13 PE6000 aeroderivative gas turbine generator sets, each capable of generating 50 MW. Crusoe will install the equipment to power upcoming hyperscale datacenter projects. "At Crusoe, we are committed to leading the industry with an energy-first approach to AI infrastructure. The acquisition of these 13 PE6000 units is a strategic move to rapidly provide the energy capacity our hyperscale projects require to operate at peak performance," says John Adams, Crusoe Senior Vice President, Power Infrastructure. "We value partners like PROENERGY who match our pace and share our passion for reliability and speed." Like all PROENERGY solutions, equipment for Crusoe's hyperscale AI factories will be test-fit and quality-checked at the Sedalia manufacturing facility to arrive onsite ready to install. "Our equipment is made in-house for world-class reliability no matter the application," says Jeff Canon, PROENERGY President and CEO. "We appreciate that Crusoe trusts PROENERGY to deliver a solution on time and as promised." About PROENERGY PROENERGY is an engineering, R&D, and manufacturing powerhouse. The company addresses every need for fast-start power generation: turbine and package manufacturing, turnkey project execution, power purchase agreements, and asset lifecycle care for turbines and plants. Where others see impossible energy challenges, PROENERGY provides innovative aeroderivative solutions. For more on PROENERGY, visit www.proenergyservices.com. View original content to download multimedia:https://www.prnewswire.com/news-releases/proenergy-to-deliver-major-generating-equipment-to-power-crusoe-ai-factories-302743533.html
Anthropic's $12 Billion CoreWeave Deal Signals a New Arms Race for AI Infrastructure
Anthropic just locked in one of the largest infrastructure agreements in artificial intelligence history. And it didn't build a single data center to do it. The Claude developer signed a five-year, approximately $12 billion agreement with CoreWeave, the Nvidia-backed cloud computing company that has rapidly become the go-to infrastructure provider for AI firms unwilling -- or unable -- to build out their own server farms. The deal, first reported by Yahoo Finance, gives Anthropic dedicated access to massive GPU clusters necessary to train and deploy its next generation of large language models. The numbers alone are staggering. But the strategic implications run deeper. This agreement represents a fundamental bet by Anthropic that outsourcing compute to a specialized provider is more efficient than vertically integrating -- a direct contrast to the approach taken by rivals like xAI and Meta, which are pouring tens of billions into proprietary data center buildouts. It also marks a defining moment for CoreWeave, which went public in late March 2025 in one of the year's most closely watched IPOs. The company's stock has been volatile since its debut, but deals of this magnitude provide exactly the kind of contracted revenue visibility that Wall Street craves. The Compute Hunger Is Insatiable The AI industry's appetite for computing power has entered a phase that even optimistic projections from two years ago didn't fully anticipate. Training frontier models -- the most capable systems from companies like OpenAI, Google DeepMind, and Anthropic -- now requires clusters of tens of thousands of GPUs running for months at a time. Inference, the process of actually running these models for end users, demands its own enormous and growing share of compute. Anthropic's deal with CoreWeave is structured around access to Nvidia's latest GPU hardware, which remains the gold standard for AI training workloads. The five-year term and $12 billion price tag suggest Anthropic is securing not just current-generation chips but future hardware as well, likely including Nvidia's Blackwell and successor architectures as they become available. This isn't Anthropic's first major infrastructure commitment. The company has previously secured compute through deals with Amazon Web Services, which has invested billions in Anthropic and offers Claude through its Bedrock platform. Google Cloud has also been a significant partner. But the CoreWeave agreement represents something different: a dedicated, large-scale compute arrangement with a provider whose entire business model is built around serving AI workloads, not general enterprise cloud customers. The distinction matters. AWS and Google Cloud serve millions of customers across every industry. CoreWeave was purpose-built for GPU-intensive computing. That specialization means Anthropic can potentially get better performance, more predictable access, and pricing structures tailored to its specific needs. So why not just build its own infrastructure? Cost and speed. Constructing data centers from scratch takes years and requires expertise in real estate, power procurement, cooling systems, and hardware logistics -- none of which are core competencies for a research lab. CoreWeave handles all of that. The trade-off is dependency. Anthropic is committing $12 billion over five years to a single provider, creating significant concentration risk. If CoreWeave faces operational issues, supply chain disruptions, or financial difficulties, Anthropic's model training and deployment schedules could be directly impacted. But Anthropic appears to have calculated that the risk is manageable, especially given CoreWeave's deep relationship with Nvidia and its rapidly expanding data center footprint across the United States and internationally. CoreWeave's Meteoric Rise -- and the Questions That Follow CoreWeave's trajectory has been nothing short of extraordinary. Founded in 2017 as a cryptocurrency mining operation, the company pivoted to GPU cloud computing as AI demand exploded. It raised over $15 billion in debt and equity financing before going public, built relationships with every major AI lab, and positioned itself as the anti-hyperscaler -- a cloud provider laser-focused on GPU compute rather than trying to be everything to everyone. The Anthropic deal adds to a contract backlog that already includes commitments from Microsoft, which signed a reported $10 billion-plus agreement with CoreWeave for Azure AI infrastructure. These mega-deals have given CoreWeave a revenue profile that looks more like an infrastructure utility than a typical startup, with long-term contracted cash flows that support its heavy capital expenditure. But questions persist. CoreWeave carries substantial debt. Its capital expenditure requirements are enormous and ongoing, as each new generation of Nvidia GPUs demands fresh investment. And the company's valuation, both public and in prior private rounds, assumes sustained, exponential growth in AI compute demand -- an assumption that, while currently well-supported, is not without risk. The broader chip deal market has exploded in parallel. According to Yahoo Finance, the total value of AI infrastructure agreements signed in 2024 and early 2025 dwarfs anything seen in previous technology cycles. Nvidia's data center revenue has surged past $100 billion on an annualized basis, and every major cloud provider is racing to secure allocation of its most advanced chips. This dynamic has created a seller's market for GPU access. Companies that locked in supply early -- or that have direct relationships with Nvidia -- hold significant advantages. CoreWeave's status as one of Nvidia's largest customers, and an early investor in its GPU cloud vision, has been a critical competitive moat. For Anthropic specifically, the timing of this deal coincides with intensifying competition in the foundation model space. OpenAI continues to push ahead with GPT-5 and beyond. Google is investing heavily in Gemini. Meta's Llama models are gaining traction in the open-source community. And newer entrants like xAI, backed by Elon Musk's considerable resources, are building hundred-thousand-GPU supercomputers in Memphis. Anthropic can't afford to fall behind on compute. Its Claude models have earned a reputation for strong performance on reasoning, coding, and safety benchmarks, but maintaining that position requires continuous investment in training larger, more capable systems. The CoreWeave deal is essentially an insurance policy against being outgunned on infrastructure. There's a financial dimension too. Anthropic was last valued at approximately $61.5 billion in a funding round earlier this year, according to multiple reports. The company has raised billions from investors including Google, Spark Capital, and Salesforce Ventures. Committing $12 billion to infrastructure signals confidence that revenue -- from API access, enterprise contracts, and consumer products -- will scale fast enough to justify the expenditure. Whether that confidence proves warranted depends on how quickly the AI market matures from a capital-intensive buildout phase into a sustainable, revenue-generating business. Right now, the industry is spending far more on infrastructure than it's generating in direct AI revenue. That gap will need to close. What This Means for the Broader AI Industry The Anthropic-CoreWeave deal is part of a larger pattern reshaping the technology sector. The traditional cloud computing model -- dominated by AWS, Microsoft Azure, and Google Cloud -- is being supplemented, and in some cases challenged, by specialized GPU cloud providers. CoreWeave is the most prominent, but companies like Lambda, Crusoe Energy, and Applied Digital are also carving out positions in this market. This fragmentation creates opportunities and risks. AI companies get more options for sourcing compute, which can drive better pricing and performance. But it also introduces complexity. Managing workloads across multiple providers, ensuring data security and model integrity, and negotiating contracts worth billions of dollars all require sophisticated operational capabilities. For investors, these mega-deals offer a clearer picture of where AI spending is actually going. It's not just software. It's physical infrastructure -- data centers, power plants, cooling systems, networking equipment, and above all, GPUs. The companies that control these assets, or that have locked in long-term access to them, are positioned to capture enormous value. Nvidia remains the ultimate beneficiary. Every CoreWeave deal, every hyperscaler buildout, every AI startup securing compute -- they all flow back to Nvidia's data center business. The company's dominance in AI training chips is virtually unchallenged, and its software platform, CUDA, has created deep lock-in across the industry. AMD and Intel are working to close the gap, and custom chip efforts from Google (TPUs), Amazon (Trainium), and Microsoft (Maia) represent longer-term competitive threats. But for now, Nvidia's position is secure, and deals like the Anthropic-CoreWeave agreement only reinforce it. The $12 billion figure will grab headlines. It should. But the real story is what it reveals about the current state of AI: a technology sector betting tens of billions of dollars that artificial intelligence will become as fundamental to the global economy as electricity or the internet. The infrastructure is being built at a pace not seen since the fiber-optic boom of the late 1990s. Whether this era ends differently than that one did remains the trillion-dollar question.
As OpenAI drops out of datacentre project at Texas, Microsoft moves in; CEO of data center developer Crusoe says: This will be ...
Microsoft is reportedly taking over a data centre construction project in Texas after OpenAI declined to pursue it. This will make the two companies neighbours at one of the country's largest artificial intelligence (AI) hubs. The project, located in Abilene, Texas, is being developed by data centre company Crusoe, which has now confirmed that it is working with the company that was once the exclusive cloud computing provider and still holds a roughly 27% stake in ChatGPT-maker. However, both companies have been increasingly pursuing AI development separately, even as they occupy the same tract of land. The announcement comes after OpenAI said that it had dropped plans to expand its Abilene project further earlier this month.In a written statement to Fortune, Crusoe co-founder and CEO Chase Lochmiller said that this data centre will be the "industrial foundation for American AI". The company's chief executive also noted that Crusoe continues to build the power plant tied to Microsoft's project that will generate 900 megawatts "at a velocity the industry has never seen."The Abilene site was originally planned as a cryptocurrency mining facility before developers revised and expanded the project following the rise in demand for AI infrastructure after the launch of ChatGPT.Crusoe has announced that this site will be part of its deal with Microsoft, which involves building two new "AI factory" facilities, along with an on-site power plant for the company. The development will sit next to a separate, larger campus that Crusoe is already constructing for OpenAI and Oracle, bringing multiple AI infrastructure projects in the same location. However, Microsoft's plant will be larger than the 350-megawatt, gas-fired power plant attached to the OpenAI and Oracle project, the company added. Crusoe has already completed two data centre buildings for OpenAI and its cloud partner Oracle, with SoftBank also involved as an investment partner. Currently, the company is constructing six additional buildings for OpenAI and Oracle, with completion expected by the end of this year.OpenAI's existing project, which is part of the Stargate data centre initiative, was announced by US President Donald Trump as part of AI investment efforts he described as a "resounding declaration of confidence in America's potential."In a post shared on X, Sachin Katti, OpenAI's head of compute infrastructure, wrote, "Our flagship Stargate site is one of the largest AI data center campuses in the United States. We considered expanding it further, but ultimately chose to put that additional capacity in other locations."Katti added that OpenAI has more than half a dozen sites under development across the United States, including a project with Oracle in Wisconsin.Meanwhile, Microsoft's two additional facilities in Abilene, announced last week, will bring the total number of data centre buildings at the site to 10, with a combined capacity of 2.1 gigawatts.Oracle has said the on-site power plant will serve as a backup, as the data centres primarily rely on the regional electricity grid, including power from nearby wind farms.The expansion of AI infrastructure has also raised concerns around emissions. During a visit to Abilene last year, OpenAI CEO Sam Altman said, "We're burning gas to run this data center," adding that "in the long trajectory of Stargate", the aim is to transition to other power sources.
Microsoft lays claim to Crusoe's new 900 MW DC campus
Bitcoin farmer turned bit barn builder Crusoe revealed plans to add 900 megawatts of capacity to its Abilene Texas datacenter campus on Friday to support Microsoft's AI ambitions. The new campus will be located alongside the 1.2 gigawatt facility Crusoe is building for Oracle and OpenAI as part of its $500 billion Stargate initiative, announced early last year. Oracle and OpenAI had reportedly planned to lease the additional capacity until negotiations and financing fell through. Meta was expected to lay claim to the unbuilt and yet untapped datacenter expansion, but it seems Microsoft will now take up residence at the site instead. While Microsoft's relationship with OpenAI has certainly changed in recent years, its possible that Redmond could end up using the site to serve the model dev. The new campus will feature two new data halls along with an on-site power plant capable of delivering 900 MW of behind-the-meter energy to the facilities. The bit barns themselves will each support 336 megawatts of critical IT load. "By integrating 900 megawatts of new on-site power generation, we will continue building the industrial foundation for American AI - at a velocity the industry has never seen," Chase Lochmiller, Crusoe CEO said in a canned statement. According to Crusoe, this expansion will bring the site's capacity to 2.1 gigawatts, though "capacity" seems to be doing a lot of the heavy lifting here. Only about 200 megawatts of existing 1.2 gigawatt projects have actually been powered on. Crusoe says that the remaining gigawatt should come online throughout 2026. Work on the second campus, which Microsoft's AI models and services will call home, is currently in the "land-clearing and site preparation" phase. Crusoe doesn't anticipate the facilities will be operational until the middle of next year. Crusoe didn't elaborate on how its on-site power plants generate their power, but given the timeline, natural gas generators or fuel cells are the most likely candidates. We've reached out to Crusoe for comment; we'll let you know if we hear anything back. ®
Microsoft shares slip as Texas AI project with Crusoe boosts infrastructure development
The development highlights Abilene's growing role as a key location for large-scale AI projects. Microsoft shares saw a 1.69% decline, closing at $359.80 after the unveiling of a new 900 megawatt AI campus project in Texas. The market response followed revelations of intensified AI infrastructure partnerships between Microsoft and Crusoe, a technology company specializing in designing and deploying modular data centers and advanced computing infrastructure, with a focus on sustainable AI and cloud solutions. Major expansion in Texas adds 900 megawatt data center campus Crusoe, headquartered in Denver, announced plans to construct a vast AI-focused data center complex in Abilene, Texas, directly aiming to meet Microsoft's increasing computational needs. This new campus is set to feature two large-scale data center buildings as well as an integrated power generation facility, specifically engineered for enhanced reliability and grid stability. Once completed, the combined capacity is expected to reach 2.1 gigawatts, making it one of the largest AI computing projects currently underway. ContentsMajor expansion in Texas adds 900 megawatt data center campusInfrastructure design targets energy efficiency and scalable deployment Site preparation and land development have begun, with the first data center scheduled to go online by mid-2027. The timeline aligns with a broader trend in the AI computing sector, where competition for infrastructure capable of handling expansive large language models and AI workloads has accelerated. Crusoe's latest project follows a sequence of rapid expansions in Abilene. What started as a 200 megawatt facility has grown substantially as demand from large technology firms looking for custom AI solutions has increased. The current phase consolidates the region's reputation as a critical location for high-capacity AI infrastructure. Infrastructure design targets energy efficiency and scalable deployment The new Texas campus will incorporate 900 megawatts of on-site power generation complemented by battery storage, supporting a dense concentration of GPU-based AI workload processing. Both data center buildings will utilize advanced liquid cooling systems to minimize water usage and efficiently manage the heat produced by intensive computation. In addition to improved operational efficiencies, Crusoe's modular infrastructure design aims to reduce deployment timeframes for clients like Microsoft. The company is concurrently building a factory dedicated to the production of modular data center components, which is intended to standardize and speed up large-scale infrastructure projects. Abilene's geographic and logistical advantages -- ample power supply and land availability -- have been cited as decisive factors influencing this expansion. Local authorities and industry stakeholders are responding to a surge of interest from technology companies seeking secure, long-term access to AI computing power in the region. Through its partnership with Crusoe, Microsoft has secured around 700 megawatts of campus capacity in and around Abilene, positioning it as a critical player in the emerging competition for AI infrastructure dominance. You can follow our news on Telegram, Facebook, Twitter & CoinmarketcapDisclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Crusoe, Microsoft Expand Abilene AI Campus, Add 900 MW
An aerial shot of Crusoe's Abilene AI data center campus.Image: Crusoe Crusoe is expanding its presence in West Texas, announcing plans for a 900 MW AI data center facility in Abilene designed to support large-scale Microsoft workloads. The expansion - adjacent to Crusoe's existing Abilene development - will bring total planned capacity to roughly 2.1 GW, positioning the site among the largest AI-focused data center hubs in the US. It's the latest phase in one of the country's fastest-moving (and most closely watched) digital infrastructure builds. The scale of the project reflects how quickly expectations are shifting. "It's significant, but it's starting to feel less surprising than it would have even 18 months ago," Andy Cvengros, managing director at JLL, told Data Center Knowledge. "The hyperscalers and AI players have completely reset expectations around campus scale." "A few years ago, a 100 MW deal was a headline," he added. "Now we're seeing single-site programs that dwarf that." Related:Texas Gets Tough on Data Center Power - Who's Next? Crusoe began construction on its Abilene facility in mid-2024 at the Lancium Clean Campus, initially tied to the Stargate initiative with Oracle and OpenAI. However, recent reports suggest the companies have scaled back their expansion plans. The first phase - two buildings totaling about 200 MW - moved from groundbreaking to operations in roughly a year, an exceptionally fast hyperscale timeline. By early 2025, Crusoe secured billions in financing to scale the site into a 1.2 GW campus spanning eight buildings, with construction on the next phase soon underway. At the same time, tenant requirements have evolved. What began as a tightly aligned Oracle and OpenAI deployment has evolved amid changing capacity needs and financing conditions, with Microsoft stepping in to secure large blocks of capacity. The shift reflects a broader trend - large AI campuses are increasingly designed as flexible, multi-tenant "AI factories," rather than single-tenant deployments. Crusoe says the new campus reflects a fundamental shift in hyperscale design, one where power availability, not just compute, drives site selection. The project includes a 900 MW behind-the-meter power plant paired with battery storage, designed to enhance reliability and mitigate grid constraints. That approach aligns with what site selectors are seeing across the market. "It's the starting point of almost every conversation we have with clients right now," Cvengros said. "Land is available. Construction materials are available. Labor is manageable. Power is the constraint." Related:Could Texas Overtake Northern Virginia as the Data Center Capital? The Abilene site reflects that dynamic, building on access to abundant, low-cost energy, including wind, sufficient to meet AI's growing energy needs. "Crusoe is building a new AI factory campus in Abilene, purpose-built for next-generation AI," said CEO Chase Lochmiller. "By integrating 900 MW of on-site generation, we're laying the industrial foundation for American AI - at unprecedented speed." The inclusion of large-scale, behind-the-meter generation marks a shift in how hyperscale infrastructure is being deployed. "When you're talking about gigawatt-level demand, the grid simply can't absorb that cleanly in most markets," Cvengros said. "Behind-the-meter generation lets developers move faster and gives operators more control over their power profile." The approach - once considered niche - is increasingly being adopted to work around interconnection delays and grid constraints. For Microsoft, the deal expands a growing portfolio of large-scale infrastructure partnerships aimed at securing AI capacity. "As customer demand for AI grows, Microsoft is focused on ensuring access to reliable, responsible infrastructure at scale," said Noelle Walsh, president of cloud operations and innovation, in a statement. "Crusoe's Abilene facility reflects the type of infrastructure needed for next-generation AI." Related:Trump Admin's Ratepayer Protection Pledge: What It Means for Hyperscalers The move highlights a broader shift in which hyperscalers are increasingly turning to external developers with integrated power strategies to secure capacity quickly, particularly as core markets face power and permitting constraints. Local officials highlight the project as evidence of West Texas' emergence as an AI infrastructure hub. "West Texas has become the Silicon Prairie for AI," said Rep. Jodey Arrington (R-TX), in a statement. "This expansion underscores the region's role in ensuring America - not China - leads the next frontier of information technology." Crusoe's Abilene expansion highlights a broader shift toward power-driven site selection and gigawatt-scale campuses. As noted at a recent industry forum, "Texas is 15% of all the data center connectivity in megawatts in the US," underscoring the state's growing role in hyperscale development. Behind-the-meter generation is emerging as a central strategy, with estimates suggesting "50% to 65% of large-scale data centers will be running behind the meter" in the coming years. Together, these trends point to a new model - one defined by energy access, speed, and flexibility over proximity to conventional network hubs.
Crusoe to build 900-megawatt AI data center for Microsoft in Texas
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Microsoft Taps Crusoe for Dedicated 900-Megawatt AI Campus in Texas, Crusoe Says
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Form Energy, Crusoe partner on 12 GWh of iron-air batteries for AI data centers
Only weeks after announcing the world's largest project to support a Google data center in Minnesota, the US iron air battery specialist has entered another mega deal, bringing its project pipeline under agreement to more than 75 GWh. U.S. long-duration storage specialist Form Energy has agreed to deploy 12 GWh of capacity for AI infrastructure developer Crusoe, with deliveries starting in 2027. Under the agreement, Crusoe has secured reserved volume, pricing, and delivery terms, ensuring access to Form Energy's iron-air battery technology as it scales its AI infrastructure. All systems will be manufactured at Form Energy's Form Factory 1 in Weirton, West Virginia, supporting domestic energy manufacturing and job creation. Crusoe aims to deliver AI infrastructure at speed and is therefore committed to a "bring-your-own-capacity" approach, whereby power generation is developed and secured alongside compute. This model accelerates deployment, reduces reliance on constrained grid capacity, supports utility system growth, helps shield ratepayers from cost increases, and enhances overall grid reliability, the company explains. To read the full story, please visit our ESS News website...
Crusoe announces new 900 MW AI factory campus in Abilene, Texas to support Microsoft AI infrastructure
This super composite rating is the result of a weighted average of the rankings based on the following ratings: Fundamentals (Composite), Global Valuation (Composite), EPS Revisions (1 year), and Visibility (Composite). We recommend that you carefully review the associated descriptions. This composite rating is the result of an average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), Financial Estimates Revisions (Composite), Consensus (Composite), and Visibility (Composite). The company must be covered by at least 4 of these 5 ratings for the calculation to be performed. We recommend that you carefully review the associated descriptions.
