CoreWeave CEO Michael Intrator said the AI cloud provider would fund substations and grid interconnection costs for upcoming Texas data centers while supporting cooperation with Governor-elect Gina Hinojosa’s transition team on permitted projects and durable development standards. Hinojosa campaigned for a temporary statewide moratorium on new AI data centers until safeguards for residents, water supplies and the electricity grid are established. CoreWeave also said it would use closed-loop liquid cooling, claiming more than 300 times the water efficiency of traditional methods, although the figure has not been independently audited. The proposed pause adds uncertainty to CoreWeave’s multigigawatt contracted backlog and financing, with the company carrying about $50 billion in debt, its 9% notes due in 2031 trading at 79.5 cents on the dollar in early November 2026, and its shares previously falling to a record-low $49.92.