Crusoe, Microsoft and Akashi plan 628MW of data-center capacity

Crusoe plans a 106MW data center beside the Itaipú substation in Paraguay, its first site in Latin America, with a first phase targeted for mid-2027 and capacity intended for Crusoe Cloud.

The three campus plans disclosed this week total 628MW, two-thirds of it Microsoft's 422MW Georgia campus. Microsoft's Oct. 20 filing covers 422MW on 349 acres in Floyd County, Georgia, supplied by Georgia Power and valued at $360 million, a build projected to generate $35 million a year in local tax revenue. Akashi's 100MW Astana campus is a $354 million build with $31.2 million of EDB financing and a first 10MW phase due in 2027.

For advisors sizing a data-center sleeve, planned capacity and contracted capacity are different inputs. The three campuses are plans with first phases dated 2027; Innio's 1.72GW is order volume. Its latest 620MW order, a repeat months after a 1.1GW order, carries a full maintenance agreement on the first 500MW. The due-diligence question for the sleeve is which layer it owns and whether the revenue attached is signed.

Vector Core Compute committed $3.5 billion to SambaNova chips for low-latency edge inference. The company is backed by Vista and Cambium, and both sponsors already hold stakes in SambaNova. The commitment covers chips rather than buildings: it names no site and adds nothing to the campus megawatts.

Pilot Fiber agreed to buy Boldyn's NY-NJ metro fiber and raised $330 million, with both transactions expected to close in the second quarter of 2027 subject to regulatory approvals. Acquisition terms were not disclosed.

On the disclosed cost figures, Microsoft's $360 million works out to about $850,000 a megawatt for 422MW; Akashi's $354 million covers 100MW, roughly $3.5 million a megawatt. The reporting does not itemize what each figure covers, so the fourfold gap may reflect scope as much as cost.