AI Data Center Tracker 2026: Every Verified Campus, Lease and Gigawatt Commitment

AI Data Center Tracker 2026

Last updated: September 26, 2026, 14:00 UTC — Update frequency: weekly, with same-week entry for any commitment above 100 MW of critical IT load | Maintained by: Axis Intelligence Research & Sarah Mitchell

Axis Intelligence Research maintains a running, primary-sourced log of AI data center commitments: new campuses, phase commercializations, and long-term compute leases. Every row in this tracker links to a document we fetched and read — an SEC filing, an operator press release, or a government announcement. No row is built from secondary reporting, and no row is built from an estimate.

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Quick Answer: What Does This Tracker Cover?

The AI Data Center Tracker logs 25 verified commitments announced between September 23, 2025 and September 4, 2026, representing 10,969 MW of disclosed critical IT load and $723.9 billion in disclosed USD figures. Axis Intelligence Research finds a Capacity Disclosure Ratio™ (CDR™) of 48.0% — and 0% across the 9 tracked hyperscaler self-builds, not one of which states critical IT load in its own announcement.

Key Findings

1. According to Axis Intelligence Research, 12 of 25 tracked AI data center commitments disclosed critical IT load in megawatts, a Capacity Disclosure Ratio™ of 48.0% under methodology v1.3 as of September 26, 2026.
2. Axis Intelligence Research finds that none of the 9 tracked hyperscaler self-builds disclosed critical IT load, while 10 of 11 colocation leases did — a 0% versus 90.9% split that follows the commercial structure, not the engineering.
3. According to Blockfusion’s September 2026 investor presentation, subsidiary North East Data executed a 15-year anchor lease with CoreWeave for 35 MW of critical IT load at its Niagara Falls, New York campus, with a conditional framework extending to 300 MW.
4. According to OpenAI’s August 17, 2026 announcement, the company secured approximately 8 gigawatts-IT at the PORTS-Pike Technology Campus in Pike County, Ohio, under a 20-year lease from SB Energy, with the first 800 MW expected in 2028.
5. Axis Intelligence Research finds a median Compute Yield Ratio of 68.2% across the 4 tracked projects disclosing both utility capacity and critical IT load — meaning roughly a third of announced site power does not appear as contracted compute.

The Tracker: AI Data Center Commitments, Reverse Chronological

Filter by developer, status, region, project type, or by whether the announcement disclosed critical IT load. The CDR™ reading recomputes on whatever subset you select. Every row exists in the downloadable CSV at the same value, with full provenance.

Narrative entries for every row follow below.

September 4, 2026 — Niagara Falls Campus Anchor Lease, New York (Blockfusion / CoreWeave)

Blockfusion subsidiary North East Data LLC executed a definitive 15-year anchor lease with CoreWeave for critical IT capacity at its Niagara Falls campus, where 50 MW is energized and operating today. The headline figure is 85 MW of committed take-or-pay load; the structure behind it is 35 MW under the executed Lease Agreement and 50 MW under an Expansion Agreement conditional on Blockfusion securing incremental power and CoreWeave approving the power infrastructure plan. Anticipated revenue across the full 85 MW is approximately $2.8 billion over the initial terms, or roughly $5.4 billion if both five-year renewals are exercised on each phase. CoreWeave committed $50 million as a non-recurring charge and a further $30 million through a warrant purchase, and holds first right to each new capacity increment up to 300 MW. Revenue generation is modelled from February 2028.

This tracker records 35 MW, not 85. A conditional expansion is a framework, not a commitment, and we apply the rule here exactly as we applied it to CleanSpark’s 885 MW Texas exclusivity. Note that the dollar figure is therefore not proportional to the recorded capacity — it covers the full 85 MW and is flagged as such.

The other thing worth registering: the tenant is named. Four of 25 entries manage that, and CoreWeave is the only named counterparty in the tracker that is itself an AI cloud provider rather than a lab or a hyperscaler.

Critical IT load (executed): 35 MW · Conditional expansion: to 85 MW, framework to 300 MW · Anticipated revenue: $2.8 billion (85 MW basis) · Status: Announced

⚠️ capacity_partly_conditional — 50 of the 85 MW is conditional on power procurement and tenant approval. The dollar figure spans both the executed and conditional capacity.

Primary source: Blue Acquisition Corp. / Blockfusion USA Inc., Form 8-K Exhibit 99.1, September 2026

August 18, 2026 — Northwest Louisiana Data Center Campuses, Louisiana (Amazon Web Services / STACK Infrastructure)

Amazon increased planned investment across Caddo and Bossier Parishes from $12 billion, announced in February, to $18 billion, adding a third campus in Shreveport. STACK Infrastructure is developer and owner of all three campuses and projects up to 2,250 construction jobs; Amazon puts full build-out at up to 750 full-time data center roles and 2,500 supported positions. Amazon states it pays 100% of the cost of new energy infrastructure and grid upgrades through its arrangement with SWEPCO, and commits up to $400 million to public water infrastructure at no cost to residents.

The structure here is a landlord relationship, which is what makes the silence on capacity notable. Nearly every other colocation arrangement in this tracker states IT load, because IT load is the billing unit. This one states dollars across three campuses and no megawatts at all.

Investment: $18 billion (three campuses) · Status: Announced

⚠️ it_load_undisclosed — No capacity figure appears in the release. The $18 billion supersedes the February figure and covers three campuses, not one; it is not a per-site cost.

Primary source: Amazon, August 18, 2026

August 17, 2026 — PORTS-Pike Technology Data Center, Ohio (SB Energy / OpenAI)

OpenAI entered an agreement for approximately 8 gigawatts-IT at the PORTS-Pike Technology Campus in Pike County, on private and remediated federal land at the former Portsmouth Gaseous Diffusion Plant. SB Energy will build, own and operate under a 20-year lease with OpenAI as customer; NVIDIA is investing $1.5 billion in SB Energy and providing credit support for the land, power and shell build-out of the initial 4.25 IT-GW. The first 800 MW is expected in 2028, largely on existing AEP infrastructure; further capacity requires new generation, including natural gas, plus new transmission. OpenAI projects 35,000 construction jobs over a six-year build-out through 2032 and 2,500 operating roles, and commits $40 million to a community grant fund alongside SB Energy’s existing $40 million.

This remains the largest single-site IT load figure in the tracker by a factor of six.

Critical IT load: 8,000 MW · First delivery: 2028 (800 MW) · Status: Announced

Primary source: OpenAI, August 17, 2026

August 13, 2026 — Horizon 1, Childress Campus, Texas (IREN / Microsoft)

IREN announced that Horizon 1 has been delivered to and accepted by Microsoft, and that the deployment achieved NVIDIA Exemplar Cloud status on GB300 NVL72. Horizon 1 is the first of four 50 MW IT-load, direct-to-chip liquid-cooled AI cloud deployments scheduled for delivery to Microsoft at IREN’s Childress, Texas campus during 2026, under a five-year, $9.7 billion cloud services contract announced in November 2025.

Acceptance is the word doing the work here. Construction completion is a milestone the developer controls; acceptance is the customer agreeing the capacity performs, which is when the service term starts. This is the second entry in the tracker to reach operational status, and the first to do so by customer sign-off rather than by the builder’s own announcement.

Critical IT load: 50 MW (Horizon 1) · Contract value: $9.7 billion (all four tranches) · Status: Operational

⚠️ program_level_figures — The $9.7 billion covers all four Horizon tranches over five years and is not attributable to Horizon 1 alone. It is excluded from per-project dollar comparisons.

Primary source: IREN Limited, Form 8-K Exhibit 99.1, August 13, 2026

August 10, 2026 — Rockdale Campus 20-Year Lease, Texas (Riot Platforms)

Riot Platforms disclosed a 20-year data center lease for 191 MW of critical IT capacity at its Rockdale, Milam County campus, expected to generate approximately $9.1 billion in total contract revenue over the initial term running to June 2048, with two five-year extension options. Riot describes the counterparty only as a leading frontier AI lab. Combined with its existing AMD lease — the first 25 MW of which was delivered in May — Riot states 241 MW of contracted critical IT capacity with approximately $9.8 billion of long-term contracted revenue.

Critical IT load: 191 MW · Contract value: $9.1 billion · Status: Announced

⚠️ tenant_undisclosed — Press coverage identified the tenant as Anthropic. That identification does not appear in Riot’s filing, so this tracker records no counterparty. Riot’s own description is the only sourced characterisation of credit quality available.

Primary source: Riot Platforms Inc., Form 8-K Exhibit 99.1, August 10, 2026

July 29, 2026 — Paducah American Energy Hub, Kentucky (Brookfield / NextEra Energy / U.S. DOE)

A coalition led by Brookfield and NextEra Energy announced a data center campus on leased land at the Department of Energy’s Paducah Site, the former uranium enrichment complex in McCracken County. The coalition release puts the campus at up to 1.8 GW of utility capacity and over 1.2 GW of compute capacity, backed by dedicated generation NextEra will own: up to 2 GW of natural gas and up to 2.6 GW of battery storage. DOE selected Brookfield to develop and operate the campus and NextEra to build the power, following a Request for Offers issued in November 2025. The power service agreement requires Kentucky Public Service Commission approval.

Utility capacity: 1,800 MW · Compute capacity: >1,200 MW · Investment: $100 billion (stated) · Status: Announced

⚠️ source_inconsistency — The July 29 coalition release states the campus will be fully constructed in 2032. DOE’s own August 4 account of the same project states construction is expected to be completed in 2031, and describes the site as a 1.8-GW AI and HPC innovation campus without separating utility capacity from compute capacity. We publish both figures and resolve neither. The CSV carries 2032 on the coalition release’s authority as the developing party, with the DOE divergence recorded here.

Primary source: Paducah American Energy Hub coalition release, July 29, 2026 · Secondary confirmation: U.S. Department of Energy, August 4, 2026

July 23, 2026 — Project Santos, ERCOT South (CM Global Services)

CM Global Services announced a two-phase, 50 MW campus targeting AI inference workloads, developed as a GPU-as-a-Service platform rather than a shell leased to a tenant. Phase 1 is a 7 MW facility carrying 5 MW of IT load, targeted for completion by the end of Q1 2027; Phase 2 adds 43 MW gross and 30 MW of IT load. The company states it is securing NVIDIA GB300 Blackwell capacity to sell directly to off-takers.

Gross capacity: 50 MW · Critical IT load: 35 MW · Status: Announced

⚠️ site_undisclosed — The release identifies the location only as the ERCOT South grid zone. No county, no interconnection agreement, no utility named. The megawatt figures are internally consistent (5 + 30 = 35 IT; 7 + 43 = 50 gross) but no third party can verify them against a queue position.

Primary source: CM Global Services, July 23, 2026

July 22, 2026 — Project Camellia, Georgia (OpenAI / Georgia Power)

OpenAI announced Project Camellia in Effingham County, contracting with Georgia Power Company for 3.2 GW delivered in phases between 2028 and 2032. The commitments published alongside it are unusually specific: $80 million in community benefits over project life, up to $71 million in Codex credits for Georgia students, a closed-loop cooling system, a design that curtails consumption ahead of residential customers during peak demand, and an annual publicly released audit by an independent firm. The site sits inside the pre-existing, industrially zoned Savannah Gateway Industrial Hub.

Contracted power is not IT load. Georgia Power sells at the meter, and what lands as compute behind that meter is a separate number OpenAI has not published. The 3.2 GW belongs in the utility column and nowhere else.

Contracted power: 3,200 MW · Delivery: phased 2028–2032 · Status: Announced

⚠️ it_load_undisclosed — No critical IT load and no project capital figure are disclosed.

Primary source: OpenAI, July 22, 2026

July 20, 2026 — Beacon Point Phase 2, Texas (Hut 8 Corp.)

Hut 8 signed a second 15-year lease for 352 MW of IT capacity at Beacon Point in Nueces County, doubling the same high-investment-grade tenant’s contracted footprint to 704 MW and fully commercializing the 1,000 MW campus. Base-term contract value is $9.8 billion for this lease and $19.6 billion campus-wide. The full 1,000 MW of utility capacity sits under an interconnection agreement with AEP Texas, and Hut 8 states no incremental capacity is needed to serve Phase 2. Initial energization remains scheduled for Q1 2027; the first Phase 2 data hall is expected in Q2 2028.

Worth noting for anyone modelling density: Hut 8 states that redesigning the Phase 1 data hall to NVIDIA’s DSX reference architecture yielded 57% more IT capacity inside the same land and utility footprint. That is a rack-density change, not a power change.

Utility capacity: 1,000 MW · Critical IT load (this lease): 352 MW · Contract value: $9.8 billion · Status: Under construction

⚠️ tenant_undisclosed — Hut 8 describes the counterparty only as a high-investment-grade company. Credit quality is asserted, not evidenced.

Primary source: Hut 8 Corp. Form 8-K, Exhibit 99.1, July 20, 2026

July 14, 2026 — Sandersville Campus Lease, Georgia (CleanSpark)

CleanSpark entered a 20-year triple-net lease covering 175 MW of critical IT load at its Sandersville, Georgia campus, expected to generate approximately $6.6 billion over the initial term and up to $11.6 billion if both five-year extensions are exercised. Deliveries begin Q4 2027. The tenant also executed a letter of intent and exclusivity arrangement over CleanSpark’s entire Texas portfolio — 718 acres and up to 885 MW of secured and planned capacity across the Sealy and Brazoria campuses.

The release discloses something most do not: estimated landlord project cost of $10–12 million per MW of critical IT load. At 175 MW that implies $1.75–2.1 billion of capital against $6.6 billion of contracted revenue, and CleanSpark’s own August 6 quarterly release states the anticipated equity portion is fully funded and long-lead items pre-paid.

Critical IT load: 175 MW · Contract value: $6.6 billion · Status: Announced

⚠️ tenant_undisclosed

Primary source: CleanSpark Inc. Form 8-K, Exhibit 99.1, July 14, 2026

July 13, 2026 — Hyperion Richland Parish Expansion, Louisiana (Meta Platforms)

Meta confirmed the Richland Parish campus is being expanded to 5 GW of compute capacity, describing an investment of more than $50 billion in the region. Local Louisiana businesses have contracted more than $1.6 billion since the December 2024 groundbreaking; the expansion adds over $1 billion in roads, water and wastewater work, and the site is projected to support more than 1,000 roles once operational in a parish of about 20,000 people. The power arrangement runs through Entergy Louisiana and funds seven new gas-fired generating plants, three grid-scale batteries, nuclear uprates and purchased power, in an agreement Meta says will save Entergy customers more than $2 billion over 20 years on top of $650 million from the first agreement.

Compute capacity (as stated): 5,000 MW · Investment: $50 billion (regional) · Status: Under construction

⚠️ it_load_undisclosed — Meta states 5GW of compute capacity without separating critical IT load from site power. Recorded as gross capacity on exactly the basis applied to Meta’s Alberta and Lebanon entries below; we do not promote a company’s preferred phrasing into a defined term.

Primary source: Meta Platforms, July 13, 2026

July 9, 2026 — West Texas Data Center Campus, Texas (CleanCore Solutions)

CleanCore Solutions closed its first data center transaction, committing to fund the initial 200 MW of a West Texas campus with potential to expand beyond 500 MW. Funding runs through 2029, with $100 million expected by the first quarter of 2027.

Campus capacity: 200 MW · Status: Announced

⚠️ locality_undisclosed — The release names only West Texas, with no county, utility or interconnection detail. No IT load is separated from campus capacity, and the $100 million is a funding tranche rather than a project cost, so no dollar figure is recorded.

Primary source: CleanCore Solutions Inc., Form 8-K Exhibit 99.1, July 9, 2026

July 8, 2026 — Sturgeon County Data Center, Alberta (Meta Platforms)

Meta broke ground on a 1 GW AI-optimized data center in Sturgeon County, its first in Canada and 33rd globally, representing more than CAD $13 billion. Meta states it worked with Greenlight Limited Partnership, AltaLink, Capital Power and the Alberta Electric System Operator on energy supply, will fund new generation and grid infrastructure, and will use a closed-loop, liquid-cooled system with dry cooling — no operational water use in the cooling loop.

Gross capacity: 1,000 MW · Investment: CAD $13 billion · Status: Under construction

⚠️ it_load_undisclosed — Meta’s release gives 1 GW without separating IT load from total site power, and gives no energization or completion date. Widely circulated figures for a 1.8 GW scaling ceiling and a 932 MW gas plant do not appear in Meta’s own release and are therefore excluded from this tracker’s rows.

Primary source: Meta Platforms, July 8, 2026

July 6, 2026 — Justified Data Campus, Kentucky (TeraWulf / Anthropic)

TeraWulf subsidiary Raylan Data LLC entered a 20-year lease with Anthropic PBC for approximately 401 MW of critical IT load at the Justified Data campus in Hawesville, Kentucky. Expected contracted revenue is approximately $19 billion over the initial term, with two five-year renewal options. Capacity is delivered in phases: initial service in the second half of 2027, ramping to the full 401 MW by early 2028. TeraWulf separately agreed to sell its 50.1% interest in the Abernathy Joint Venture — a 168 MW critical IT load campus in Abernathy, Texas — to a group led by Fluidstack for approximately $530 million.

This is one of only four entries in the tracker with a named tenant. That matters more than it sounds: a named investment-grade tenant is a verifiable counterparty, and most leases here ask the reader to take credit quality on faith.

Critical IT load: 401 MW · Contract value: $19 billion · Status: Announced

Primary source: TeraWulf Inc. Form 8-K, July 6, 2026

June 24, 2026 — Michigan Campus Colocation MSA, Michigan (Hyperscale Data)

Hyperscale Data executed a master services agreement through its Alliance Cloud Services subsidiary to provide 20 MW of critical AI compute capacity to a California-based neocloud provider at its Michigan campus, expected operational in the fourth quarter of 2026 and valued at approximately $1.2 billion. The agreement carries a customer option to expand to 52 MW, which the company values at over $3 billion.

The smallest entry in the tracker by capacity, and a useful corrective to reading the segment split as a story about scale. Twenty megawatts, and the IT load is stated to the megawatt — because it is a colocation agreement and that is what colocation agreements price.

Critical IT load: 20 MW · Expected value: $1.2 billion · Status: Announced

⚠️ tenant_undisclosed — Customer named only as a California-based neocloud provider. The 52 MW expansion option and the campus’s projected 300 MW eventual power capacity are conditional and are not recorded.

Primary source: Hyperscale Data Inc., Form 8-K Exhibit 99.1, June 24, 2026

June 23, 2026 — Fairwater Mount Pleasant Facility 1, Wisconsin (Microsoft)

Microsoft announced completion of construction of its first datacenter facility in the Village of Mount Pleasant, after bringing equipment online and running startup activities in April. The facility is fully operational. Nearly 10,000 construction workers built it over roughly two years, ahead of schedule; about 550 full-time employees are on site, rising to around 800 when the adjacent second facility is complete in 2028. Microsoft estimates $4.7 billion in local hyperscale construction spending in Wisconsin between 2024 and 2028, with direct purchases from 29 businesses across 11 Wisconsin counties.

A facility can be finished, energized, running frontier workloads, and still be a blank cell in a capacity column.

Investment: $4.7 billion (statewide construction spend 2024–2028) · Status: Operational

⚠️ it_load_undisclosed — No capacity figure appears in the release. The dollar figure is statewide hyperscale construction spend across five years, not a single-site project cost, and is not comparable to the per-project figures elsewhere in this table.

Primary source: Microsoft, June 23, 2026

June 15, 2026 — Jackson County Campus Expansion, Alabama (Google)

Google announced a $1.5 billion investment across 2026 and 2027 to expand its Jackson County campus, which has operated since 2019 on the site of TVA’s retired Widows Creek coal plant — an interconnection inheritance that is the reason the site moves at all. Google states it funds 100% of its own power and infrastructure costs and has contracted more than 300 MW of new generation for the Tennessee Valley region, building on a 2025 partnership with Kairos Power and TVA for up to 50 MW of advanced nuclear. Accompanying commitments include a $2 million Energy Impact Fund with TVA and $550,000 in STEM kits for the Jackson County School District.

Investment: $1.5 billion (2026–2027) · Status: Under construction

⚠️ it_load_undisclosed — The 300 MW cited is contracted generation capacity in the TVA region, not critical IT load and not site capacity for this campus. It appears in neither capacity column.

Primary source: Google, June 15, 2026

June 15, 2026 — Montgomery County Data Center Campus, Missouri (Amazon Web Services)

Amazon announced a campus in Montgomery County expected to create more than 400 full-time roles plus thousands of construction jobs, with over $7 million in community contributions including $3 million for emergency dispatch services and more than $1 million for a gathering space at the county fairgrounds. Amazon states the Ameren Missouri arrangement is designed so campus costs are not passed to other ratepayers, that water for cooling is expected 7% of the year or less, and that at full capacity the campus will use less than 0.1% of the aquifer’s annual recharge.

Status: Announced

⚠️ capex_not_in_primary — The release states the investment as several billion dollars and publishes no figure. A $10 billion number circulated widely in coverage of this announcement; because it does not appear in Amazon’s own document, this tracker records nothing. This is the only entry disclosing neither capacity nor capital.

Primary source: Amazon, June 15, 2026

June 8, 2026 — Delta Forge 2 AI Factory Campus, southern United States (Applied Digital)

Applied Digital entered a long-term lease for 210 MW at Delta Forge 2, a purpose-built AI Factory campus, with a U.S.-based high-investment-grade hyperscaler. It is the company’s fifth AI Factory campus and brings the total contracted portfolio to approximately $36 billion across five campuses. As of May 31, 2026, Applied Digital reported roughly 1,410 MW of contracted critical IT load across Polaris Forge 1, 2 and 3 in North Dakota and Delta Forge 1 and 2.

Critical IT load: 210 MW · Status: Announced

⚠️ site_undisclosed — The release identifies the location only as a new southern state, and gives no lease-level dollar figure. The $36 billion is the five-campus portfolio total and is not recorded against this row.

Primary source: Applied Digital Corp., Form 8-K Exhibit 99.1, June 8, 2026

April 23, 2026 — Delta Forge 1 AI Factory Campus, Louisiana (Applied Digital)

Applied Digital entered a 15-year lease with a new U.S.-based high-investment-grade hyperscaler covering 300 MW of critical IT load at Delta Forge 1, a 430 MW AI Factory campus, representing approximately $7.5 billion in total contracted value over the estimated term.

This is the fourth entry in the tracker — and the only one added this cycle — that states campus capacity and critical IT load in the same document. At 300 against 430, the yield sits at 69.8%, within a megawatt or two of Paducah’s and nowhere near Beacon Point’s 35.2%. The spread between those two is not engineering; it is what fraction of a campus a single lease phase covers.

Campus capacity: 430 MW · Critical IT load: 300 MW · Contract value: $7.5 billion · Status: Under construction

⚠️ tenant_undisclosed

Primary source: Applied Digital Corp., Form 8-K, April 23, 2026

February 11, 2026 — Lebanon Data Center Campus, Indiana (Meta Platforms)

Meta broke ground on a 1 GW campus in Lebanon, Boone County, inside the LEAP Research and Innovation District — its second Indiana site and, by Meta’s own description, one of its largest infrastructure investments to date at more than $10 billion. The campus is expected to support more than 4,000 construction jobs at peak and around 300 operational roles. Meta states it pays the full cost of energy used, is providing $1 million a year for 20 years to the Boone REMC Community Fund for direct energy-bill assistance, is funding emergency water utility assistance through The Caring Center, and will invest more than $120 million in water and public infrastructure including roughly $45 million in road improvements. The facility uses a closed-loop, liquid-cooled system.

Gross capacity: 1,000 MW · Investment: >$10 billion · Status: Under construction

⚠️ it_load_undisclosed — Meta states 1GW of capacity once operational without separating critical IT load from site power. The dollar figure is stated as more than $10 billion and is recorded at that stated floor.

Primary source: Meta Platforms, February 11, 2026

January 7, 2026 — Virginia Data Center Program, Virginia (Google)

Google announced an additional $9 billion in Virginia cloud and AI infrastructure through 2026, covering a new Chesterfield County data center alongside expansion of existing campuses in Loudoun and Prince William Counties. The release pairs the infrastructure spend with a workforce commitment: Google AI Pro access and training for Virginia college students as part of a broader $1 billion commitment, with the University of Virginia, Brightpoint Community College and Northern Virginia Community College in the first Google AI for Education Accelerator cohort.

Investment: $9 billion (through 2026) · Status: Announced

⚠️ it_load_undisclosed — No capacity figure is published for the new Chesterfield County campus or for the expansions.

Primary source: Google, January 7, 2026

November 24, 2025 — Northern Indiana Data Center Campuses, Indiana (Amazon Web Services)

Amazon announced an estimated $15 billion investment in Northern Indiana to build new data center campuses, adding 2.4 gigawatts of data center capacity in the region and more than 1,100 new high-skilled jobs. Through NIPSCO’s newly created subsidiary NIPSCO Generation LLC, Amazon pays fees to use existing power lines and covers the cost of any new power plants, lines or equipment needed to serve the project; NIPSCO puts the resulting saving to existing electric customers at approximately $1 billion over 15 years. The agreement adds up to 3 GW of new generation in total, beyond Amazon’s own 2.4 GW requirement.

The generation figure is the one to read carefully. Three gigawatts contracted, 2.4 attributable to Amazon, and the remainder flowing to the utility’s other customers — it is a different structure from every other entry here, and it is the reason the capacity column carries 2,400 and not 3,000.

Gross capacity: 2,400 MW · Investment: $15 billion · Status: Announced

⚠️ it_load_undisclosed — Amazon states data center capacity without separating critical IT load, and names no individual campus location within NIPSCO’s service territory.

Primary source: Amazon, November 24, 2025

November 12, 2025 — Fluidstack Custom Data Centers, Texas and New York (Anthropic)

Anthropic announced a $50 billion investment in American computing infrastructure, building data centers with Fluidstack in Texas and New York, custom-built for its own workloads, with approximately 800 permanent and 2,400 construction jobs and sites coming online through 2026.

Investment: $50 billion · First delivery: 2026 · Status: Announced

⚠️ locality_undisclosed — The announcement names states but not localities, and discloses no capacity figure. The row will be updated when a site-specific primary document appears, not when a locality is reported second-hand.

Primary source: Anthropic, November 12, 2025

September 23, 2025 — Stargate Five-Site Expansion, Four States (OpenAI / Oracle / SoftBank)

OpenAI, Oracle and SoftBank announced five U.S. sites: Shackelford County and Milam County in Texas, Doña Ana County in New Mexico, Lordstown in Ohio, and a Midwest site confirmed in a publisher update dated October 22, 2025 as Port Washington, Wisconsin, developed by Oracle with Vantage. OpenAI put the program — the five sites plus the Abilene flagship and CoreWeave projects — at nearly 7 GW of planned capacity and over $400 billion over three years, and said the sites were selected from more than 300 proposals across more than 30 states. SoftBank broke ground at Lordstown; the Milam County site is developed with SB Energy.

Program capacity: 7,000 MW · Program investment: $400 billion · Status: Under construction

⚠️ program_level_figures — Both figures are program-level totals covering Abilene and CoreWeave projects, not attributable to the five new sites alone. The row is excluded from the segmented CDR™ table below and from per-site aggregates. It is retained because a tracker of AI data center commitments that omits Stargate is a curation choice pretending to be a methodology.

Primary source: OpenAI, September 23, 2025

What Is the Capacity Disclosure Ratio™ (CDR™)?

The Capacity Disclosure Ratio™ is the share of tracked AI data center commitments whose announcing party states critical IT load in megawatts in its own primary document.

Formula: CDR™ = (entries where the primary source states critical IT load in MW) ÷ (total entries) × 100

Methodology v1.3, effective September 26, 2026. Four readings now exist on four different populations, and they are not a time series:

Version	Date	Population	Reading
v1.0	2026-08-13	6 entries, July 2026 transaction cohort	83.3%
v1.1	2026-08-26	16 entries, transactions + corporate campus announcements	37.5%
v1.2	2026-09-18	22 entries, six backfilled entries added	45.5%
v1.3	2026-09-26	25 entries, three entries added	48.0%

Scope and formula have not changed since v1.1. Every increment since then is population, not behaviour, and every increment has moved the headline ratio upward for the same mechanical reason: colocation leases are easier to find in SEC filings than hyperscaler campus announcements are to exhaust. A rising CDR™ in this tracker is a statement about our sampling, not about operator disclosure. Prior readings are preserved and never rewritten.

Reading as of September 26, 2026: 48.0% (12 of 25 entries). Excluding the single program-level row, 50.0% (12 of 24).

Why this metric and not another gigawatt count? Because gigawatt counts are the problem. A campus announcement quoting 1 GW is quoting utility capacity, interconnect capacity, or nameplate generation — three different numbers — while the figure that determines how much compute actually lands is critical IT load. Aggregate a mixed bag of those and you get a market-size number nobody can reproduce. CDR™ measures how much of the announced pipeline is even expressed in the unit that matters.

Segment	Entries disclosing IT load	Total entries	CDR™
Colocation lease	10	11	90.9%
Greenfield campus	2	4	50.0%
Hyperscaler self-build	0	9	0.0%
Multi-site program	0	1	0.0%
All entries	12	25	48.0%

Source: Axis Intelligence Research, AI Data Center Tracker CSV, as of 2026-09-26.

The segmented split is the finding, and it has now survived three consecutive cycles of new entries without a single exception. Colocation leases stand at 10 of 11. Hyperscaler self-builds stand at 0 of 9, unchanged across nine tracked projects and four operators.

Scale has nothing to do with it. Hyperscale Data’s Michigan agreement covers 20 MW and states the IT load to the megawatt; Meta’s Lebanon campus covers a gigawatt and states none. The variable is whether someone is being billed per megawatt of IT load. A landlord has to publish the billing unit. A company building for itself has no counterparty to price against, so it announces the number that plays best locally — dollars, jobs and tax base in an economic-development release.

Amazon’s Louisiana entry remains the exception that proves the rule: a landlord deal announced into an economic-development frame, and the megawatts vanish with the frame. PORTS-Pike is still the cleanest counter-case. OpenAI states 8 gigawatts-IT because SB Energy owns the buildings and OpenAI is the tenant paying as capacity is delivered. Same company, same quarter as Camellia, where OpenAI develops for itself and publishes contracted power instead. The disclosure unit tracks the commercial structure, not the operator’s philosophy.

Secondary observation: the Compute Yield Ratio

For the 4 entries disclosing both utility capacity and critical IT load, Axis Intelligence Research computes IT load ÷ utility capacity:

Entry	Utility capacity (MW)	Critical IT load (MW)	Ratio
Beacon Point Phase 2 (Hut 8)	1,000	352	35.2%
Project Santos (CM Global Services)	50	35	70.0%
Delta Forge 1 (Applied Digital)	430	300	69.8%
Paducah American Energy Hub	1,800	1,200	66.7%

Source: Axis Intelligence Research, computed from tracker CSV rows, as of 2026-09-26.

Median: 68.2%, n = 4, unchanged. Three entries were added this cycle and none added a row here — Blockfusion and Hyperscale Data state IT load only, CleanCore states campus capacity only. We will not promote this to a headline metric until the denominator reaches ten, and on current disclosure behaviour that will take a while.

Three of the four now cluster between 66.7% and 70.0%, which starts to look like a campus-level norm. Beacon Point’s 35.2% sits alone, and the reason is structural rather than technical: 352 MW of contracted IT against 1,000 MW of secured utility capacity is a single lease phase, not a campus-level yield. Hut 8’s own filing puts the campus at 704 MW contracted across both phases, which lands at 70.4% — inside the cluster. We do not record that figure as the row’s value, because the row tracks the July 20 lease and not the campus; but it is the clearest available evidence that the outlier is an artefact of what a single announcement covers. Anyone aggregating announced gigawatts into a demand forecast is summing numbers that mean roughly two-thirds to seven-tenths of what they appear to mean, and materially less when the announcement covers one phase of a larger site.

How We Curate This List

What counts as an entry. A commitment enters the tracker when a primary document — SEC filing, operator press release, or government agency announcement — states a specific AI or HPC data center project and at least one of: capacity in MW, contract value, or total investment. The project must be identifiable by developer and, preferably, location.

What does not count.

• Analyst estimates, market-sizing reports, and pipeline totals from aggregators.
• Capacity figures reported by news outlets that do not appear in the operator’s own document. Meta’s Alberta entry carries 1 GW and nothing else for exactly this reason; Amazon’s Missouri entry carries no dollar figure, and Riot’s Rockdale entry carries no tenant, for the same one.
• Compute and chip agreements that secure capacity without naming a site. Anthropic’s April 2026 agreement with Amazon secures up to 5 GW and commits more than $100 billion over ten years, and names no location. It is an enormous number and it is not a project, so it has no row here. The same rule excludes the Anthropic–Google–Broadcom TPU agreement.
• Letters of intent, expansion options and exclusivity arrangements, which we note inside an entry but do not count toward capacity. CleanSpark’s 885 MW Texas exclusivity contributes zero megawatts; Blockfusion’s 50 MW conditional expansion and Hyperscale Data’s 52 MW option are likewise excluded, and those rows carry only the executed capacity.
• Aggregate corporate capex guidance. That belongs in the Axis AI Capex Tracker, not here.
• Satellite-imagery construction estimates, however credible the analyst.

Unit discipline. We record utility_or_gross_capacity_mw and critical_it_load_mw in separate columns and never merge them. Where a source gives one figure without specifying which, it goes in the gross column and the entry is flagged it_load_undisclosed. Contracted generation is neither: Google’s 300 MW in the Tennessee Valley, Georgia Power’s 3.2 GW for Camellia and the third gigawatt of NIPSCO generation beyond Amazon’s requirement are power procurement, recorded in the entry text and excluded from both capacity columns. Empty is a finding; a filled-in guess is a fabrication.

Verification flags. source_inconsistency marks an entry where two documents of comparable authority state different figures. it_load_undisclosed, tenant_undisclosed, site_undisclosed, locality_undisclosed, capex_not_in_primary, program_level_figures and capacity_partly_conditional mark specific gaps in the announcing party’s own disclosure. Flags stay visible; they are not defects in the tracker but findings about the market.

Conflict resolution. Where sources disagree, the developing party’s own filing governs the CSV value and the divergence is documented in the entry text. We do not average, and we do not silently pick.

Entry IDs are permanent. IDs carry the announcement year and are assigned in the order entries are added, not in date order. AIDC-2026-001 through 006 keep the IDs under which they were published on August 13, 2026; 007 through 014 and AIDC-2025-001 and 002 were added August 26; 015 through 019 and AIDC-2025-003 were added September 18; 020 through 022 were added September 26. IDs are citation anchors and are never renumbered.

About This Dataset

ai-data-center-tracker.csv is the canonical fact table for this page. Every figure in the prose above exists as a CSV row at the same value and as-of date. The file carries 28 columns including full provenance: source_org, source_document, source_url, retrieved_date, is_primary, axis_calculated, and method_note.

• Coverage: September 23, 2025 – September 4, 2026, updated continuously
• Rows: 25
• Developers: 18
• Geography: United States, Canada
• Licence: CC BY 4.0
• Citation: Axis Intelligence Research, AI Data Center Tracker, 2026.

Frequently Asked Questions

How much AI data center capacity has been committed in 2026?

Axis Intelligence Research tracks 10,969 MW of disclosed critical IT load across 25 verified commitments announced between September 2025 and September 2026. This is not a market total. It is the sum of commitments meeting our primary-source inclusion criteria, and it excludes any capacity an operator did not state in its own document — which, on current evidence, is most of it.

What is the difference between utility capacity and critical IT load?

Utility capacity is the power a site can draw from the grid under its interconnection agreement. Critical IT load is the power delivered to compute equipment, after cooling, conversion and distribution losses. Across the 4 tracked projects disclosing both, critical IT load ran between 35.2% and 70.0% of utility capacity, with a median of 68.2%.

Which AI data center commitment is the largest in this tracker?

By capacity, OpenAI’s PORTS-Pike agreement in Pike County, Ohio, at approximately 8,000 MW of IT capacity under a 20-year lease from SB Energy. By disclosed contract value among leases, the TeraWulf–Anthropic lease at Hawesville, Kentucky, at approximately $19 billion over its initial 20-year term.

Why do hyperscalers never publish megawatts?

Across the 9 hyperscaler self-builds in this tracker, none states critical IT load, and this holds regardless of project size — a 20 MW colocation agreement states it, a 1 GW self-build does not. A company building for its own use has no counterparty to price capacity against, so its announcement optimises for the local audience — dollars, jobs and tax revenue in an economic-development release. The megawatt figure has no commercial function in that document, so it is not there.

Are compute deals like Anthropic’s Amazon agreement included?

No. Agreements that secure capacity without naming a site are excluded by the inclusion criteria. Anthropic’s April 2026 agreement with Amazon — up to 5 GW and more than $100 billion over ten years — names no location and therefore has no row.

Why does the Capacity Disclosure Ratio keep rising?

Because our sample keeps adding colocation leases, not because operators disclose more. The ratio has moved 37.5% → 45.5% → 48.0% across three cycles while the hyperscaler segment stayed at exactly 0%. SEC-filed leases are simply easier to find exhaustively than corporate campus announcements. Readings under different methodology versions are not comparable as a time series and we do not present them as one.

How often is this tracker updated?

Weekly, with same-week entry for any commitment above 100 MW of critical IT load. The dateModified field is bumped on each substantive revision. Monthly bilan articles recompute exclusively from this page’s CSV.

Can I reuse this data?

Yes. The CSV is licensed CC BY 4.0. Cite as: Axis Intelligence Research, AI Data Center Tracker, 2026.

Authors: Axis Intelligence Research, with Sarah Mitchell (AI/ML) and Aidan Jad (EV & Clean Energy)

Last updated: September 26, 2026, 14:00 UTC

Review trigger: any new commitment above 100 MW of critical IT load; any change to a tracked project’s stated capacity, tenant or delivery date; any regulatory decision (state PSC or equivalent) affecting a tracked project’s power service agreement.

Corrections: [email protected]

Correction, September 26, 2026: The September 18 coverage note stated that our sweep of the August 19 – September 18 window surfaced no qualifying primary commitment beyond one sub-threshold expansion. That was wrong. Blockfusion’s anchor lease with CoreWeave, executed September 4, 2026 and disclosed in an SEC-filed investor presentation, met the inclusion criteria and was missed. It is now entered as AIDC-2026-020. The error was one of search coverage, not of criteria: the filing was made by the SPAC counterparty rather than by an operator we monitor by name. The monitored-source list in our maintenance protocol has been extended to cover SPAC and business-combination filings by data center operators.

Coverage note, September 26, 2026: This cycle added three entries — the Blockfusion–CoreWeave anchor lease described above, plus two backfills (CleanCore’s West Texas campus, July 9; Hyperscale Data’s Michigan colocation MSA, June 24). No qualifying primary commitment was identified in the September 19 – 26 window. Absence of entries in that window reflects what our monitored sources published, not a claim that nothing was announced anywhere.

Methodology notice, September 26, 2026: The Capacity Disclosure Ratio™ moves to v1.3 to record the 25-entry population. Scope and formula are unchanged since v1.1; only the population changed. A new verification flag, capacity_partly_conditional, was added for entries whose headline capacity mixes executed and conditional commitments. All prior readings (83.3% / 37.5% / 45.5%) remain valid for their cohorts and have not been rewritten. The four readings are not a time series. The CSV has been replaced — please re-download if you are working from the September 18, 2026 file.please re-download if you are working from the August 26, 2026 file.gence.com

Others Pages

• Data Center Electricity Demand Tracker
• Data Center Moratorium Tracker
• AI Capex Tracker
• AI Data Center Statistics