Texas Pacific Land Corporation (NYSE:TPL) has announced a strategic partnership with Bolt Data & Energy (Bolt) to develop large-scale data center campuses and the necessary infrastructure across TPL land.
The collaboration aims to leverage Bolt’s data and energy infrastructure expertise alongside TPL’s expansive land holdings, offering a significant opportunity for the growth of digital infrastructure in North America.
Bolt, co-founded by Eric Schmidt, the former CEO and Chairman of Google, aims to create the largest and most efficient data center company in the world.
Schmidt, who serves as Bolt’s Chairman, envisions combining abundant energy production with scalable data infrastructure to support the growth of artificial intelligence and digital industries in the U.S.
As part of the agreement, Bolt raised $150 million in capital, with $50 million invested by TPL.
The deal provides TPL with an equity interest in Bolt, warrants, and a right of first refusal to supply water for Bolt-affiliated projects.
Bolt is currently in discussions with commercial partners and anchor customers to develop these large-scale data centers on TPL’s land, further solidifying TPL’s role in the rapidly expanding digital infrastructure market.