This sure reads like the set-up to a giant self-dealing/self-aggrandizing machine.
From ZeroHedge, May 27:
Chamath Palihapitiya Unveils Plans For AI Data Center Near Bill Gates' Arizona Smart City
Industry insiders—particularly those on the financing side of AI data centers—describe to Zero Hedge the current buildout as a "sprint" expected to continue through President Trump's second term.
Last week, we covered the major development in Abilene, Texas—a massive data center project widely considered the first "Stargate" project under President Trump's broader AI infrastructure initiative.
Backed by Crusoe and Blue Owl Capital, the Abilene facility will be operated by OpenAI—the creator of ChatGPT—positioning it as a flagship project in President Trump's effort to rapidly scale U.S.-based AI infrastructure amid an intensifying AI race with China.
Adding to the wave of data center investment news, Chamath Palihapitiya, CEO of Social Capital, wrote on X in response to CAPITAL.news, "We're going to build a 1 GW AI data center in Arizona," signaling another major deal to expand US AI infrastructure.
Verbiage continues:
Announced this today! We’re going to build a 1 GW AI data center in Arizona.
I’ve never done a RE deal so working with a great RE investor, @anitavlallian
, with a vision for the project was key. Anita is a star.
Ultimately this will require us investing $25B to get the entire project done but it will happen in phases and we will appropriately scale in debt but the equity will be significant.
We own 2000 acres right beside Bill Gates’ smart city and down the road from a nuclear reactor.
Now we continue the process of entitlements and regulatory permitting so we can start construction.
Onwards!
....MUCH MORE
From September 2022's "A Look At Chamath Palihapitiya's SPAC's":
Anyone in the media who gave this guy any oxygen, at all, is an idiot.
(after typing that I thought, "maybe one should check the archive before, rather than after, using the word 'Idiot').*
*****
I'm A SPAC Cowboy....
Bet you weren't ready for that.
Because shorting stocks based on valuation (vs fraud) in a bull market is so dangerous, we don't talk about it all that much. There have been a few, the Great Kinder Morgan short of '14* being a wonderful memory, along with a few tactical i.e. quick shorts of Tesla over the years (in direct violation of the decade-long "Don't short TSLA" admonition), but as a general rule, on the blog we only short frauds in a bull. In a bear, "Short 'em all" as one of my mentors used to say.
The fact we don't put every last thought that pops into our collective heads out in public actually benefits our readers as a couple of things that hurt results in 2020 never made it to the blog.
But I don't like blind pools.
And I especially don't like SPAC's with PIPES
And with that confessional we'll turn the narrative over to the professional.....
Here are a couple of the SPACs:
OpenDoor
Virgin Galactic
There are a dozen more, SoFi might work out.
