Sample issue #0 · Week of Oct 19, 2026
This is a sample issue shown for preview. Figures are as reported by the linked sources on the dates shown.
This week: grid limits cost one big UK project its anchor tenant, hyperscalers paid for their own power, and credit markets started charging more for AI risk.
1. Microsoft drops its anchor deal for Nscale's Loughton, Essex campus
Microsoft has pulled out as the expected anchor tenant of Nscale's Loughton site, which ministers called the UK's largest sovereign AI data centre. UK Power Networks had told Nscale it can't supply enough power until the early to mid 2030s. Nscale says it's looking at on-site generation.
Why it matters: power, not demand, is now what kills projects, even ones with government backing.
Source: The Guardian, Oct 18, 2026. source
2. Anthropic signs its first Canadian lease, at EverWind in Nova Scotia
Anthropic leased capacity at EverWind's Point Tupper campus, its first data center deal in Canada. The campus is 95 MW initial, up to 420 MW.
Why it matters: cheap wind and an available grid in Atlantic Canada are now pulling in frontier AI tenants.
Sources: Reuters via Investing.com, Oct 16, 2026. source ; MW figures from DC Market Insights deal tracker, Oct 16, 2026. source
3. Amazon, AEP and X-energy look at 960 MW of SMRs in Indiana
The three signed an agreement to explore building 12 Xe-100 reactors (80 MW each) at the former Breed coal plant site in Sullivan County. Amazon is funding project development and would be the first offtaker. It's the second project in Amazon and X-energy's plan for 5 GW+ of US nuclear by 2039.
Why it matters: hyperscalers are now paying for generation development themselves instead of waiting for utilities to do it.
Source: Amazon, Oct 19, 2026. source
4. Microsoft signs a 20-year, ~1,100 MW power deal with NiSource
NiSource's GenCo will add about 1,100 MW of generation for Microsoft's northwest Indiana campus starting in 2028, plus 600 MW of battery storage under a tolling deal. Microsoft pays for all the generation and transmission it needs.
Why it matters: Indiana is turning into a test case for large loads paying their own way, with two hyperscaler power deals in one week.
Source: NiSource, Oct 16, 2026. source
5. Alcoa sells part of its Massena, NY smelter site to a data center buyer for up to $315M
Alcoa gets about $50M to $65M at closing. Another $60M to $250M follows as data center capacity is approved and commissioned over seven years. The site is permitted for 180 MW to start and could reach 635 MW. The buyer is unnamed, but DCD points to an NYDIG affiliate.
Why it matters: an earnout tied to approved MW is a deal structure worth copying for powered industrial land.
Source: DCD, Oct 19, 2026. source
6. AI credit stress: CoreWeave bonds near 15%, Oracle CDS at 295bp
CoreWeave stock fell 15.5% on Oct 14, and its 2032 bonds yielded 14.8% (S&P rating B+). Oracle's 5-year CDS reached 295bp, which CNBC says trades like BB/B credit, even though Oracle is rated BBB-.
Why it matters: borrowing costs for neoclouds and leveraged builders are rising, and that hits every project still waiting on financing.
Sources: CNBC, Oct 14, 2026. source ; CNBC, Oct 19, 2026. source
7. Fermi discloses the economics of its 222 MW TensorWave lease (Texas)
The 15-year phase-one lease at Project Matador is worth $6.5B in contracted revenue: 156 MW critical IT, 2.5% escalators. It has not closed yet. Closing is set for Oct 31 and depends on project financing.
Why it matters: a rare public look at turnkey AI lease pricing and capex per MW, arriving the same week credit tightened.
Source: Yahoo Finance, Oct 15, 2026. source