For the better part of a fortnight, the tenant behind one of the largest data centre leases in Texas history existed only in the negative, described in Hut 8’s own filings as an “unnamed, investment-grade hyperscaler,” and now the Financial Times says the name is Nvidia.
The FT reported citing five people familiar with the arrangement, that Nvidia is the counterparty behind two 15-year leases at Hut 8’s Beacon Point campus in Nueces County, near Corpus Christi, and that the deal could be worth as much as $50bn to the developer over its full life.
Hut 8 did not respond to requests for comment, and Nvidia has not confirmed that it is the tenant.
The circularity that story implies is already familiar territory: Nvidia is separately reported to be in talks to backstop $250bn of OpenAI debt, and it took a $2.1bn warrant in IREN earlier this year as part of a 5GW neocloud agreement.
The 💜 of EU techThe latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!The $50bn headline needs a footnote, though, because the contracted base is both smaller and already public.
