Goldman Sachs Co-Leads Financing for 5-Gigawatt AI Power Campuses in Texas
Goldman Sachs is co-leading financing for a 5-gigawatt project in Texas to develop private power campuses for artificial intelligence, in collaboration with Newmark Group Inc. The initiative, spearheaded by GridFree AI, aims to raise hundreds of millions of dollars to support modular natural gas-fired generation for data centers, with plans to bring initial capacity online within 24 months. Each of the three sites will generate approximately 1.5 gigawatts of power using 100-megawatt gas turbine modules.
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Goldman Sachs Group Inc. is co-leading financing for a 5-gigawatt project aimed at developing private power campuses for artificial intelligence in Texas. The firm is collaborating with Newmark Group Inc. to secure equity and credit for the modular natural gas-fired generation serving data centers in south Dallas, under the development of GridFree AI.
The initial funding goal is to raise hundreds of millions of dollars, with further rounds planned as the project scales. GridFree AI, established about a year ago and led by CEO Ralph Alexander, aims to expedite power deployment, bringing initial capacity online within 24 months.
Each of the three planned sites will provide around 1.5 gigawatts of power using 100-megawatt modules of gas turbines. The campuses will be self-reliant, with plans to connect to the Texas grid for surplus power in the future.
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