Exhibit 2 · Project signal
Stargate / Abilene (Lancium Clean Campus)
Data Center · Under Construction
ISO/RTO:ERCOTConfidence:High
- Status
- Under Construction
- State
- TX
- County
- Taylor
- Nearest city
- Abilene
- Utility
- Oncor / ERCOT
- Developer / owner
- Crusoe (developer); Oracle lease for OpenAI; Stargate JV (OpenAI, Oracle, SoftBank)
- Estimated load
- 1,200 MW
- Estimated generation
- Not disclosed
- Reported capex (as cited)
- ~$15B reported (most expensive U.S. data center project financed to date, per Bloomberg)
- Announced
- 2025-01
- Expected COD
- Phased; two buildings operational since Sept 2025, remaining six targeted mid-2026
- Public summary
- Flagship Stargate campus on Lancium's Clean Campus, ~1,000-1,100 acres, eight buildings, ~1.2 GW at full build. First Stargate site to go live. A planned expansion toward ~2 GW was canceled in March 2026 over financing and shifting demand forecasts; Nvidia paid a $150M deposit to secure the surplus capacity and approached Meta as a replacement tenant. Power configuration: on-site gas peaking plus grid; the campus is designed around curtailed and under-used ERCOT generation.
- Grid relevance
- Largest operational AI campus in ERCOT and the clearest example of power availability — not capital — capping data-center scale. Built around using curtailed/under-utilized ERCOT generation. The canceled expansion shows grid delay as the binding constraint on gigawatt-scale growth.
- Last updated
- 2026-06-17
- Sources
- DCD: Oracle/OpenAI drop Abilene expansionPulled 2026-06-17https://www.datacenterdynamics.com/en/news/oracleopenai-drop-plans-to-expand-flagship-abilene-stargate-site-meta-in-talks-to-pick-up-crusoe-capacity-with-nvidias-help/
- Tom's Hardware: Abilene 600MW expansion scrappedPulled 2026-06-17https://www.tomshardware.com/tech-industry/oracle-and-openai-scrap-planned-600mw-abilene-expansion
- Measured AI: Stargate site-by-site statusPulled 2026-06-17https://measuredai.substack.com/p/stargate-site-by-site-status