Issue #17
12 August 2026
Editor's Note
The SpaceX numbers are the standout this week. 2GW of compute by the end of this year and a target of 10 to 20GW by the end of 2027. That is an extraordinary pace for a company that did not have a meaningful data center footprint two years ago. When you put that alongside the Hyundai Heavy Industries deal for 1GW of natural gas engines with an unnamed US developer, and Energy Vault's 1.25GW power supply agreement in Texas, the picture this week is really about the supply chain behind the build-out. The facilities get the headlines but the engine manufacturers, power suppliers, and equipment providers are quietly becoming as important to the story as the developers themselves.
Armenia also makes an appearance this week with FirebirdAI's 300MW NVIDIA-powered campus, which is not a market anyone was talking about twelve months ago. Southeast Asia continues to attract serious capital with CoreWeave expanding into the region and SC Zeus partnering with a SoftBank unit. The geography of this industry is changing faster than most market maps can keep up with.
North America
- Energy Vault signs 1.25GW power supply deal with Texas data center developer
Energy Vault is better known for gravity-based energy storage than power supply deals. This is a different kind of move and reflects how the Texas market is pulling in non-traditional energy players alongside the established ones.
- SpaceX earnings: 2GW of compute by year end, aiming for 10-20GW by end of 2027
This is the number that reframes everything else in this newsletter. If SpaceX delivers anywhere close to that figure it will have built one of the largest compute platforms on earth in under three years. The infrastructure, power, and talent required to execute at that pace is unlike anything the industry has attempted before.
- Hyundai Heavy Industries signs 1GW natural gas engine supply deal with unnamed US data center developer
A South Korean industrial giant supplying gas engines to a US data center developer at this scale signals how far the supply chain for AI infrastructure has stretched globally. The identity of the developer is unnamed, which makes it more interesting, not less.
EMEA
- Spain's Nabiax to expand Madrid data center campus
Madrid is quietly building a case as one of Southern Europe's more credible data center markets. Nabiax expanding there reflects growing demand in a market that has historically been overshadowed by the FLAPD cities.
- What AVK’s US$1bn Backing Means for European Data Centres
European data center development is attracting capital at a pace that the planning and power systems are struggling to keep up with. Another billion dollars entering the market adds to that pressure.
- Firebird.ai launches 300MW Nvidia-powered AI data center in Armenia
Armenia is not on most people's data center shortlists. A 300MW NVIDIA-powered facility launching there is a reminder that the search for available power and land is genuinely global now and reaching markets that were not part of the conversation before.
Asia Pacific
- Indosat reinforces AI push with 1GW data center play
A telco making a 1GW data center commitment is significant. Indosat has infrastructure and connectivity assets that give it a different starting position to pure-play developers entering Indonesia.
- CoreWeave Enters APAC Data Center Race With Indonesia Expansion
CoreWeave's global push is accelerating. APAC is a logical next step given the demand signals coming out of Japan, Australia, and Southeast Asia, and CoreWeave's GPU-dense model translates well to markets with strong AI workload demand.
- SC Capital’s SC Zeus Teams With SoftBank Unit for Southeast Asia Data Centre Push
Southeast Asia continues to attract well-capitalised entrants. A SoftBank-backed partnership adds another serious player to a region that is already seeing significant competition for land and power.
Get the Next Issue.
One email a week. Unsubscribe anytime.