Crusoe has just closed a USD 1.4 billion funding round and is building a 1.2 GW campus for OpenAI in Texas.
This is not an isolated case. OpenAI itself has signed agreements totalling up to USD 1.5 trillion for chips and computing capacity so far this year.
In that context, the OpenAI + Sur Energy project in Patagonia presents an opportunity to put the region on the global map for critical infrastructure.
But the key takeaway from Texas and Wyoming is clear: mega data centres are not secured with capex and technology alone. The real bottlenecks are:
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Energy availability (signed PPAs and secured permits).
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Long-term financing structures.
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An insurance and compliance stack aligned with project finance (cyber, performance bonds, lender requirements).
Without these three elements in place, timelines and costs escalate quickly. Patagonia, with its renewables mix and cooling potential, can compete if it meets the same standards as the major markets.
How do you see the landscape for AI data centre development in the region? Do you think there is real potential for projects like this?
