The deal implies a roughly $10 billion enterprise value for Lancium's portfolio of Texas land and ERCOT power contracts. Nvidia has agreed to invest up to $3 billion in Lancium, a Blackstone-backed Texas power infrastructure developer whose 1,000-acre Abilene campus is the first operational site for Stargate, the OpenAI-SoftBank-Oracle AI joint venture, first reported by The Information on August 7, 2026. This deal is something different: a direct equity position in the land, transmission interconnects, and ERCOT power contracts required to run those GPUs at scale. Lancium's position inside that queue, built over years assembling Texas land and grid contracts, is what Nvidia is paying $10 billion to access. That event, if it proceeds, will put a public price on what secured Texas power access is actually worth and give miners a benchmark for their own infrastructure.