Why we are building
a power company

We didn't set out to build a power company. We set out to work on AI infrastructure, and everywhere we looked the same wall kept showing up. It wasn't chips, and it wasn't capital. It was electricity.

Over the past months we have been talking with the people who live this problem: executives and engineers at data center operators, GPU clouds, and energy companies, and the investors backing them. Keeping the headlines aside, the picture on the ground is remarkably consistent. Data centers will use nearly double the electricity by 2030 that they use today. A new grid connection in most of America now takes five years or more, and the queues grow every quarter. The people building AI are not waiting because they want to. They are waiting because there is nothing to plug into.

The market's answer has been to build power on site, next to the computers, and on paper that answer is winning. Fifty-nine projects have been announced, most of them enormous. What the announcements don't mention is that only four are actually running. The turbines are sold out into 2030, and the big engines are sold out behind them. Everyone with money is fighting over the same machines to serve the same handful of giant campuses in remote places, and speed has quietly become the most expensive thing in energy.

Meanwhile there is a whole layer of this economy that nobody is building for. The smaller sites. The compute that stays close to the companies that own it, because the data is not allowed to leave, or because the building is already there. Operators who were told five years by the utility and never by the permit office. That lane is empty, and we don't think it stays empty for long.

We believe power plants should be built the way good hardware has always been built: in a factory, the same way every time, tested before they ship, getting cheaper with every unit the way solar got cheaper, the way batteries got cheaper. We believe power should be welcome where people are. And we believe power for AI has to be proven and guaranteed the way safety-critical systems are proven, because that is the work we have done our whole careers, and it is the standard this industry is missing.

So that is what we are building. Factory-built power, on your site, delivered in days instead of years, at a fixed price, operated by us for as long as you run. We are keeping the details to ourselves for now, on purpose. The work will speak when it is ready.