Eric Schmidt-backed data center venture is negotiating a major deal with Google (www.businessinsider.com)

Bolt, a data center development firm co-founded by former Google CEO Eric Schmidt, is negotiating a significant deal with Google to anchor a major data center campus in West Texas. This project is part of a broader trend, as Big Tech companies are increasing their investments in AI infrastructure, with Google planning to spend approximately $40 billion on cloud and AI facilities in Texas by 2027. The potential commitment from Google is speculated to be around 250 megawatts, emphasizing the urgent need for robust power and cooling resources to support the data demands of artificial intelligence advancements. The negotiations come amidst a competitive landscape, where major tech players are racing to secure essential resources to facilitate AI development. Notably, Bolt's initial facility aims for 250 megawatts, with an expansion plan that anticipates reaching up to 5 gigawatts. This initiative follows recent challenges faced by other firms in the sector, such as Fermi, which had to navigate the withdrawal of Amazon's financial backing. As AI infrastructure spending reaches record levels, with estimates for this year exceeding $200 billion from several large companies, Bolt's plans underscore the critical infrastructure needs of the burgeoning AI landscape in Texas and beyond.