Independent research · October 2026

The capital
behind compute.

Financing intelligence for GPUs, data centres and the infrastructure that connects them.

Source-linked records. Facility histories. Clear evidence boundaries.

106Financing observations

34Operator profiles

45Project entries

12Added in this edition

Counts describe research coverage, including historical, inherited and provisional records. They are not a verified deal census or a measure of total financing.

From the research desk

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Facility histories

An upsize needs two numbers.

New commitment and resulting facility capacity answer different questions. The Vantage and DataBank additions retain that distinction.

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Project credit

A coupon does not describe the whole construction risk.

Yondr JK 1 links a public note issuance to a named Virginia project. The record distinguishes the issuer, the project purpose and the missing cost inputs.

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Power & delivery

A utility LC is evidence of credit support.

It does not establish a grid connection or available megawatts. The new contingent facility sits in its own capital category.

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The research standard

Keep the source beside the number.

Every new record identifies the primary disclosure and its limits. Unknown pricing remains unknown. Public tables are available to browse; original archives and bulk files remain restricted.

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