Zhi Tong Cai Jing·2025-10-15 11:08Core Insights - Nscale has agreed to build a data center for Microsoft in Texas, marking the fourth similar agreement between the two companies in the past two months [1] - The new facility will have a power capacity of up to 240 megawatts and is expected to be operational by Q3 2026, deploying approximately 104,000 new NVIDIA GB300 chips [1] - Nscale, established in 2024 from a cryptocurrency mining company, has become one of the most active AI chip leasing companies amid a surge in demand for computing resources [1] - Microsoft has entered into a five-year, $6.2 billion agreement with Nscale to build a data center in Norway, with plans to deploy about half the number of NVIDIA GB300 chips compared to the Texas site [1] - Nscale's CEO, Josh Payne, indicated that the startup is seeking to go public as early as next year [4] Industry Context - The AI industry has yet to report profits, and many infrastructure developers, including Nscale, lack experience in building data centers [1] - Microsoft has engaged with several "new cloud operators" to supplement its own server computing capacity [3] - Compared to other recent projects, the planned Texas facility is relatively small, as OpenAI plans to invest approximately $400 billion in five sites with a total capacity of around 7 gigawatts [5]