Nvidia is committing up to $3 billion to Lancium, a Texas-based developer of power infrastructure for AI data centers, underscoring that electricity availability is emerging as a critical constraint alongside chips. An initial $2 billion tranche gives Nvidia roughly a 20% equity stake and values Lancium at about $10 billion, with the remaining $1 billion tied to performance milestones such as new grid connections. Lancium, a Blackstone portfolio company, builds and controls land and power capacity and leases it to operators rather than running data centers itself; its portfolio includes 4 gigawatts of leased capacity and a development pipeline exceeding 15 gigawatts of powered land. Its flagship 1,000-acre Clean Campus in Abilene, Texas, is the first operational site under the Stargate AI initiative involving OpenAI, Oracle, and other major technology players, and already hosts tenant Crusoe. Nvidia will deploy its full-stack AI factory platform across Lancium campuses using DSX reference designs aimed at higher GPU density and grid-responsive power use, while Lancium is reportedly eyeing a public offering in 2027.