The Ledger
The receipts. One row per build or deal — dated, sourced, staged. Every number on this site derives from these rows.
GW-denominated capacity records, one per site. Sites are the unit of capacity truth.
Disclosure: the author of this site is CMO of Aethir, a decentralized GPU network that appears in this data.
| Date | Site | Operator | For | Location | Stage × GW | Sources |
|---|---|---|---|---|---|---|
| 2026-07-01 | § Aethir distributed network Reported as <0.1 GW; the stored value is an upper bound, not a point estimate. | Aethir | — | Global (distributed GPU network) | Energized 0.1 GW E | unverified — no source on file yet |
| 2026-07-01 | § Amazon New Carlisle (Project Rainier) ~1 GW class; reported as mixed construction/energized. Counted conservatively as construction pending verification of the energized share. | Amazon (AWS) | Anthropic | New Carlisle, Indiana, US | Under construction 1.0 GW E | unverified — no source on file yet |
| 2026-07-01 | § CoreWeave fleet (aggregate) Company-reported ~0.9 GW energized and ~3.5 GW total contracted power. The contracted tranche is stored as 3.5 − 0.9 = 2.6 GW so the fleet's GW is not double-counted across stages. | CoreWeave | — | US + Europe (fleet aggregate) | Energized 0.9 GW D Contracted 2.6 GW D | unverified — no source on file yet |
| 2026-07-01 | § FluidStack build-out for Anthropic Announced program (reported ~$50B ceiling); GW not disclosed. | FluidStack | Anthropic | US (multiple sites) | Announced — D | unverified — no source on file yet |
| 2026-07-01 | § Meta Hyperion ~5 GW planned campus; financed via a Blue Owl joint venture (~$27B capex). | Meta | — | Richland Parish, Louisiana, US | Under construction 5.0 GW D | unverified — no source on file yet |
| 2026-07-01 | § Meta Prometheus Energized per Epoch AI facility tracking; per-stage GW not stored until verified. | Meta | — | New Albany, Ohio, US | Energized — E | [1] |
| 2026-07-01 | § Microsoft Fairwater fleet Under construction; Epoch estimates the full Fairwater build-out at multi-GW scale. No per-stage GW stored until verified. | Microsoft | — | Atlanta, Georgia + Mount Pleasant, Wisconsin, US | Under construction — E | [1] |
| 2026-07-01 | § Nebius fleet (aggregate) ~3.5 GW total contracted power; ~0.8–1 GW connected is a company target for end of 2026 and is NOT counted as energized. Currently-energized magnitude undisclosed. | Nebius | — | US + Europe (fleet aggregate) | Energized — D Contracted 3.5 GW D | unverified — no source on file yet |
| 2026-07-01 | § Nebius Vineland (for Microsoft) Site backing the reported ~$17.4B Microsoft contract; GW not disclosed. | Nebius | Microsoft | Vineland, New Jersey, US | Under construction — D | unverified — no source on file yet |
| 2026-07-01 | § Nscale build-out for Microsoft Reported ~200k GPUs across sites; GW not disclosed. | Nscale | Microsoft | US + Europe (multiple sites) | Contracted — D | unverified — no source on file yet |
| 2026-07-01 | § Stargate program (Oracle sites) ~7 GW planned under the OpenAI × Oracle Stargate program. | Oracle | OpenAI | Abilene, Texas + additional US sites | Contracted 7.0 GW D | unverified — no source on file yet |
| 2026-07-01 | § xAI Colossus 2 ~1 GW class. | xAI | — | Memphis, Tennessee, US | Energized 1.0 GW E | unverified — no source on file yet |
$-denominated compute and power contracts. Dollar figures of different types are never added together.
| Date | Buyer × Seller | Value | Value type | GW | Stage | Site | Sources |
|---|---|---|---|---|---|---|---|
| 2025-12-01 | § Meta × CoreWeave Two contracts combined; reported total $35.2B. Split and dates need verification. | $35.2B D | contract lifetime | — | Contracted | CoreWeave fleet (aggregate) | unverified — no source on file yet |
| 2025-11-12 | § Anthropic × FluidStack Reported ~$50B US data-center program; ceiling, not a committed total. Date approximate. | $50B D | ceiling (up to) | — | Announced | FluidStack build-out for Anthropic | unverified — no source on file yet |
| 2025-11-01 | § Meta × Nebius Reported as 'up to $27B' — a ceiling, not a committed total. Date approximate. | $27B D | ceiling (up to) | — | Contracted | Nebius fleet (aggregate) | unverified — no source on file yet |
| 2025-10-15 | § Microsoft × Nscale Reported ~$23B, ~200k GPUs across sites. Date approximate. | $23B D | contract lifetime | — | Contracted | Nscale build-out for Microsoft | unverified — no source on file yet |
| 2025-10-01 | § Meta × Blue Owl Capital Hyperion (Louisiana) joint-venture financing; ~$27B capex, ~5 GW. Date approximate. | $27B D | capex | 5.0 | Under construction | Meta Hyperion | unverified — no source on file yet |
| 2025-09-10 | § OpenAI × Oracle Stargate program; reported ~$300B contract lifetime, ~7 GW planned. Date approximate. | $300B D | contract lifetime | 7.0 | Contracted | Stargate program (Oracle sites) | unverified — no source on file yet |
| 2025-09-08 | § Microsoft × Nebius Reported ~$17.4B; capacity delivered from Nebius Vineland, NJ. | $17.4B D | contract lifetime | — | Under construction | Nebius Vineland (for Microsoft) | unverified — no source on file yet |
| 2024-09-20 | § Microsoft × Constellation Energy Three Mile Island Unit 1 (Crane Clean Energy Center) restart PPA, ~0.8 GW. Power generation, not data-center capacity — deliberately excluded from Pipeline GW (no site row). | $16B D | PPA | 0.8 | Contracted | — | unverified — no source on file yet |
Totals by value type (unlike units are never summed)
| Value type | Deals | Value |
|---|---|---|
| capex | 1 | $27B D |
| ceiling (up to) | 2 | $77B D |
| contract lifetime | 4 | $375.6B D |
| PPA | 1 | $16B D |
$-denominated compute and power contracts. Dollar figures of different types are never added together. Methodology →