Core Insights - Jet.AI Inc. and Consensus Core Technologies Inc. have entered into a definitive agreement to develop a phased hyperscale data center campus in Midwestern Canada, addressing critical infrastructure shortages in the AI market [1][2] - The project aims to utilize Canada's low-cost energy resources, leveraging proximity to major natural gas pipelines and electrical transmission lines to meet the growing demand for AI infrastructure [2][3] Project Details - The Midwestern Project will have an initial capacity of 500 megawatts (MW), with plans to achieve the first 100 MW through defined milestones [3] - Jet.AI will invest up to $20 million in the joint venture, receiving a 17.5% equity promote upfront and additional equity interests tied to specific project milestones [4] Milestones and Contributions - The project includes five key milestones, with initial contributions starting at $300,000 and increasing to $12 million for the final milestone [4][5] - Milestones involve various stages such as signing agreements, environmental permits, and securing power supply agreements [6] Strategic Partnership - The partnership with Consensus Core enhances the project through their expertise in GPU infrastructure and AI cloud services, positioning the project to meet next-generation computing demands [7][8] - Consensus Core's leadership team has extensive experience in building data center infrastructure and managing large-scale operations, which is crucial for the project's success [9][10] Company Background - Jet.AI, founded in 2018, is transitioning to a pure-play AI data center company, focusing on scalable, high-performance infrastructure to support AI computational demands [11] - Consensus Core specializes in high-performance GPU infrastructure and is an NVIDIA Certified Cloud Partner, with a strong track record in data center projects exceeding $10 billion [12][13]
Jet.AI and Consensus Core Execute Definitive Agreement for Phased Execution of Canadian Hyperscale Data Center