Texas Just Put 474 Gigawatts of Data Center Requests on Trial The AI boom has finally reached the point where the spreadsheet has to answer to the power grid. The 474-gigawatt figure does not mean Texas is about to build 474 gigawatts of data centers. Those measures are not fully interchangeable, and the report cautions that the capital spending may not all support public-cloud revenue. Quarterly AI capital spending was 6.18 times quarterly AI revenue, a derived comparison rather than a company-reported unit-economic ratio. The capital spending, contracted demand, Texas queue, and fight for power already make the case.