Nvidia behind $50 billion lease on Texas data center, FT reports (updated)

Hut 8

28/07/2026 05:52

Adds Nvidia's response in paragraph 7, details in paragraph 8
July 28 (Reuters) - Nvidia NVDA.O has signed leases worth up to $50 billion for Hut 8's HUT.O Texas data center, the Financial Times reported on Tuesday, citing five people familiar with the deal.
Hut 8 said last week its 1-gigawatt Beacon Point campus had a base-term contract value of $19.6 billion over 15 years, rising to as much as $50.2 billion if renewal options are exercised.
The company did not disclose the tenant at the time, saying it was an "existing investment-grade customer" which would install computing equipment at the site to support large-scale AI training and operations.
The FT reported that Nvidia was the data center's tenant, citing sources.
Nvidia could sublease the property to its "neocloud" partners that buy its GPUs and sell AI cloud computing, according to the FT.
Reuters could not immediately verify the report. Hut 8 did not respond to a request for comment outside business hours.

        "Nvidia is working with ecosystem partners to accelerate the deployment of efficient AI infrastructure through the DSX AI factory architecture," an Nvidia spokesperson said, without confirming or denying the report.
DSX is Nvidia's full-stack AI factory architecture to help design, build and run large-scale AI data centers, bringing together the company's technology with equipment from partner companies.

 (Reporting by Gnaneshwar Rajan and Sumedha Mukherjee in Bengaluru; Editing by Sonia Cheema and Varun H K)
 ((Gnaneshwar.Rajan@thomsonreuters.com))