Twenty-four hours after New York's statewide moratorium, Lancium announced two gigawatt-class Texas campuses in one morning: a Crusoe partnership in Childress and up to eleven QTS buildings in Hall County, both advertising zero-water cooling, because the backlash is now designing the buildings. Also this morning: QTS upsizes its loan to $3.25 billion and cancels the bond as data centers become the leveraged loan market's main event, New York's frozen pipeline gets priced at $10 billion while unions turn on the moratorium, Pennsylvania's governor reveals the next PJM auction runs uncapped, IBM counts $67 billion in damage, and Ireland hits 23 percent. Tomorrow: our first Week in Review. Hosted by Henri Francois (@sohohenri).

New York became the first state to

freeze hyperscale data center construction:

Hochul's executive order pauses permits above

50 MW for up to a year while a stricter 20 MW

bill waits on her desk. Hours later, PJM's

capacity auction cleared at the $325 price cap

for the third consecutive year, a $16.4 billion bill

for 67 million people, and came up 6,831

megawatts short of its own reliability target.

Also this morning: IBM's worst day since before

1987 as AI infrastructure eats enterprise

budgets, Meta's Iris chip gets a September

production date on the road to 14 gigawatts,

North Carolina quietly ends its data center

power subsidy, and Indianapolis advances its

moratorium. Plus a correction on yesterday's

cap claim, because we keep our receipts.

Hosted by Henri Francois (@sohohenri).

The debut episode of DailyCenters, the daily data center briefing. Meta added three gigawatts to Louisiana in a single announcement: the Hyperion campus is now 5 GW and over $50 billion, and the fight over who pays started the same day. Also this morning: Blackstone, Apollo, and KKR put $5.34 billion into Williams' behind-the-meter power projects to skip the grid interconnection line entirely, 1,024 Nvidia B200s are headed into modular pods in Columbus, Georgia, Fort Worth and Indianapolis move toward moratoriums, and the White House drafts a ratepayer-protection pledge. Later today: PJM posts capacity auction results without a price cap for the first time. That lands in 65 million electric bills, and it leads tomorrow's episode. Hosted by Henri Francois (@sohohenri).