Issue #15: How Trump, Tract, and Amazon Are Redrawing the AI Infrastructure Map
OpenAI eyes 10 countries for Stargate. Tract, Amazon, and Elea drive hyperscale growth across Texas, Chile, and Brazil. Plus: How chip policy and private credit are reshaping global AI infrastructure.
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Hi, it’s Obi. This week’s stories span from U.S. chip policy to Latin American megaprojects, and from Southeast Asia’s cloud race to Portugal’s sovereign edge.
Global | OpenAI Eyes 10 Countries for Stargate Infrastructure
OpenAI is negotiating with 10 countries to host Stargate, its flagship infrastructure project backed by SoftBank. This marks a strategic pivot from centralized U.S.-based compute to globally distributed partnerships. Hosting Stargate will likely require sovereign guarantees around land, power, regulation, and security. In return, countries could gain local jobs, technology transfers, and strategic proximity to frontier AI models. It’s a new form of digital diplomacy, where AI infrastructure becomes a geopolitical asset, not just a commercial one.
Global | Trump to Rescind Chip Export Curbs
The Trump administration plans to repeal the Biden-era “AI diffusion rule” just days before it was set to take effect. That rule had imposed a three-tier country system limiting where U.S. chipmakers like Nvidia and AMD could sell advanced AI chips, particularly to prevent indirect access by China. Trump’s replacement would introduce a simpler, global licensing framework negotiated government-to-government. Restrictions on China, Iran, Russia, and North Korea would remain, but key allies in Southeast Asia and the Middle East could benefit. Semiconductor stocks rallied on the news. While this rollback could accelerate chip exports, it also repositions chip policy as a diplomatic tool, one that may reshape where and how AI infrastructure is deployed globally.
U.S. | Tract Secures 1,515 Acres for 2GW AI Park in Texas
Tract’s acquisition of a massive 1,500-acre site outside Austin marks a pivotal shift in hyperscale strategy. Designed to support up to 2GW of AI workloads, this “gigapark” development reflects a new model: ready-to-build, energy-aligned, and tailored for liquid-cooled deployments. As land becomes scarce in Loudoun County and Phoenix faces grid bottlenecks, Central Texas is emerging as a next-gen hub. Tract’s move isn’t just about real estate, it’s a capital markets signal: whoever controls scalable, power-rich land will set the pace for AI-era infrastructure growth.
Chile | Amazon’s $4B Investment Anchors LatAm AI Growth
Amazon Web Services is launching a $4 billion cloud region in Chile, its largest infrastructure commitment in South America. Chile’s stable regulatory environment, high renewable energy penetration, and subsea cable access make it an ideal AI infrastructure node. As regional AI and cloud adoption accelerate, this move could unlock a broader wave of hyperscaler and enterprise demand in countries like Peru, Argentina, and Colombia. AWS is also strengthening its leadership in energy-aware site selection, with Chile’s solar and hydro capabilities central to the project’s long-term value.
Brazil | Elea Unveils Rio AI City (3.2GW of Green Power)
Elea’s planned “Rio AI City” data center campus is one of the boldest greenfield projects of 2025. With up to 3.2GW of renewable-powered AI infrastructure, the initiative could elevate Brazil into the global top tier of compute infrastructure markets. Designed for AI workloads from the ground up, the campus aligns with Brazil’s long-standing hydropower and solar resources. It also provides a new blueprint for how emerging markets can use land, energy, and policy coordination to leapfrog legacy hubs.
Malaysia | Microsoft & Google Double Down on Southeast Asia’s New AI Hub
Long viewed as a secondary market behind Singapore, Malaysia is now the region’s hyperscale focal point. Microsoft and Google both announced new investments this week, including cloud regions, land deals, and 2025 launch timelines. Microsoft’s project includes the launch of its first Malaysian data center region and a $2.2 billion investment tied to AI skilling and national cloud infrastructure. Google, meanwhile, has acquired a major land parcel via a local affiliate to develop a new cloud and AI campus in Selangor, with a focus on subsea connectivity and renewable energy integration. Both projects reflect long-term strategic bets, Microsoft is positioning for national digital transformation, while Google is doubling down on network reach and regional latency optimization.
Portugal | Schneider & Start Campus Launch AI Facility in Sines
Schneider Electric and Start Campus launched an AI-optimized facility in Sines, Portugal, a coastal site with direct cable links to Europe, Africa, and the Americas. While smaller in scale than Brazil or Texas, Sines plays a vital strategic role. Portugal’s clean energy mix, plus its geopolitical neutrality and fast-track permitting, make it attractive for ESG-focused tenants and intercontinental data routing. Expect this to become a template for edge deployments at global interconnection points.
Podcast | Blue Owl Capital on AI Infra Investing
TMT Deal Talks #16 features Matt A’Hearn, Head of Digital Infrastructure at Blue Owl Capital. He unpacks how private credit is replacing traditional debt, how tenant quality and power access now drive all underwriting decisions, and why platform M&A is less attractive than greenfield development, unless it unlocks strategic demand or substation access.
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