Trump-branded AI data center megaproject stalls, CEO departs
Summary
The largest planned data center in the world, named after President Donald Trump and backed by his allies, is facing big delays and challenges. The CEO recently left, and the project struggles without a confirmed main tenant, which is needed to move forward, especially for key parts like the cooling systems.Key Facts
- The project is called the President Donald Trump Advanced Energy and Intelligence Campus, or Project Matador.
- It is located in the Texas Panhandle and aims to be half the size of Manhattan.
- The data center would demand three times the power of New York City, planning to generate 17 gigawatts from natural gas, nuclear, and solar energy.
- The CEO, Toby Neugebarger, left suddenly amid growing issues with the project.
- The project lacks a confirmed major tenant, often called an “anchor tenant,” who helps finalize details like cooling systems essential for the center.
- A key tenant pulled out in December, leading to a class-action lawsuit from investors.
- The first buildings are now expected to be ready about a year later than planned, around May 2027 instead of 2026.
- The company’s stock has dropped 75% in six months after an initial public offering (IPO) last fall.
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