The Build-Out

Chips, data centers and the power to run them.

41 stories

Two tall plain steel exhaust stacks, thin plumes rising from their tops, stand over the grey boxy structures, steel frameworks, tanks and pipe racks of a gas-fired power plant lit by low golden sun against a pale clear sky, with a chain-link fence and gravel along the bottom of the frame. — ILLUSTRATION — The exhaust stacks of a gas-fired power plant rise against a pale, clear sky.

The Quarter

Power Producers Say the Data-⁠Center Deals Are Coming

NRG and Constellation, reporting for the first time since the election, played down the threat to data-center deals; both stocks rose more than 10 percent Monday.

NRG Energy agreed on Monday to sell six gas-fired power plants to LS Power for $4 billion in cash, and said its 1.2-gigawatt data-center project “remains on track.” “I’ve actually talked to our customer since the elections. This project is going to happen,” Robert Gaudette, its chief executive, said on the company’s call, according to a transcript published by Benzinga.

Nov. 103 min read

A straight row of eight large, boxy grey generator enclosures with louvred vents and exhaust stacks on top stands on a concrete plinth beside a long, windowless grey building, with conduit pipes and junction boxes along their base, a wide pale gravel pad in the foreground and flat grassland under a dusk sky with a band of orange light low at the left.

The Power Deal

Anthropic Is Said to Buy 1.7 Gigawatts of Generators

Anthropic struck a deal worth about $3.4 billion for 1.7 gigawatts of gas-fired generators in September, the FT reported; the seller’s banker confirms the price, not the buyer.

Nov. 93 min read

A long aisle between two rows of tall black server racks with perforated mesh doors, small green and blue status lights glowing behind the mesh, runs to a pale wall at the far end under cool white ceiling lights and cable trays, its white floor tiles receding to the vanishing point.

Seoul

Nvidia Opens Its Racks to a Korean Chip

Rebellions will connect its R200 inference chips to Nvidia’s platform over NVLink Fusion; SK Telecom plans to deploy the systems, expected to be ready in 2028.

Nov. 92 min read

Three yellow tower cranes stand over a long, unfinished single-storey building on flat dry scrubland at sunset, its left part clad in plain grey wall panels and its right part an open steel frame, with a few tiny distant workers and a boom lift at its foot, low grey-green mesquite scrub and a pale dirt road curving through the foreground and the low sun at the left edge.

After the Vote

CoreWeave Writes to Texas’s Next Governor

CoreWeave’s chief told Texas’s governor-elect, who pledged a data-center moratorium, that it backs her principles and wants permitted projects finished; its shares fell 15.44 percent last week.

Nov. 83 min read

Power Producers Say the Data-⁠Center Deals Are Coming

Anthropic Is Said to Buy 1.7 Gigawatts of Generators

Nvidia Opens Its Racks to a Korean Chip

CoreWeave Writes to Texas’s Next Governor

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