Nvidia will invest up to $3 billion in power infrastructure developer Lancium, the company behind the Stargate data centre campus in Texas, the Information reported on Friday.
The chipmaker will invest an initial $2 billion for a stake of roughly 20% in Lancium, which is backed by Blackstone, according to the report.
Nvidia could invest an additional $1 billion if the company meets certain thresholds, including grid hookups, the report said, citing people familiar with the matter.
Under the deal, Lancium and its portfolio of land and power connections have an enterprise value of around $10 billion, according to the Information.
The capital is expected to help Lancium expand its operations as it explores a potential initial public offering in 2027, the report said.
Nvidia and Lancium did not immediately respond to Reuters' requests for comment.
Stargate is a joint venture between SoftBank, OpenAI and Oracle to build data centres. The project was announced in January by U.S. President Donald Trump, who said that the companies would invest up to $500 billion to fund infrastructure for artificial intelligence.
Lancium owns the 1,000-acre Lancium Clean Campus in Abilene, Texas, which serves as the first operational site of the Stargate initiative.
