Nvidia is preparing to invest as much as $3 billion in Lancium, the company developing the Texas data center campus tied to the Stargate AI project, according to Reuters, which cited a report by The Information.
The reported terms would give Nvidia roughly a 20% stake in Lancium, with an eye toward taking the company public in 2027, according to CNBC-TV18's summary of the report. Coverage of the deal was picked up widely, from Yahoo Finance and Investing.com to BusinessToday Malaysia, though all of it traces back to the same original reporting by The Information.
Lancium has been described across these reports in two ways that are really the same thing: as a "Stargate data center developer" and as a "power firm." Finimize framed it as Nvidia eyeing a stake in "Stargate's power partner." That framing is the heart of the story. Nvidia already sells the chips that make large AI models possible. What it does not control is the electricity and the physical sites those chips need to run.
Buying into a company that develops power-hungry campuses is a move up the supply chain, from selling the engine to owning a piece of the road. It also deepens Nvidia's financial entanglement with the buildout that consumes its own products — a pattern investors have watched closely as AI infrastructure spending has ballooned.
A few caveats are worth stating plainly. The figure is "up to" $3 billion, not a confirmed check. The reporting is secondhand, sourced to The Information, and none of the items here include comment from Nvidia or Lancium confirming the terms. The 2027 IPO timing is an ambition, not a filing.
It matters because it signals that the scarcest resource in AI may no longer be chips, but the power and land to plug them into — and Nvidia appears willing to spend billions to secure a claim on it.