Texas Pacific Land Corporation (TPL) has partnered with Bolt Data & Energy to develop data center campuses across TPL-owned land.

As part of the deal, Bolt raised $150 million in capital, including $50m from TPL. In return, TPL will receive equity interest, warrants, and a right of first refusal to supply water to Bolt-affiliated projects and related infrastructure.

“Our goal is to create the largest and most efficient data center company in the world by combining abundant energy production, efficient and scalable data infrastructure, and the largest land expansion runway in North America," said Eric Schmidt, chairman of Bolt.

According to Bolt, it is now pursuing commercial partnerships and anchor customers to develop large-scale data centers.

“Bolt represents a significant step forward in bringing world-class technology infrastructure to West Texas,” said Ty Glover, CEO of TPL. “With unmatched supply of both conventional fuel and renewable power, West Texas is a global leader for energy production."

"The region also benefits from a skilled workforce, a supportive regulatory environment, available water resources, and a strong entrepreneurial culture. We believe West Texas has the attributes necessary to become one of the largest concentrations of AI compute infrastructure globally.”

TPL is a publicly traded real estate operating company based in Dallas, Texas. It owns more than 880,000 acres of land across 20 West Texas counties, making it one of the largest landowners in the state. The majority of land is located in the Permian Basin, one of the hotbeds of the country’s fracking industry.

Bolt is a data and energy infrastructure company co-founded by Eric Schmidt, former CEO and chairman of Google. The company is currently building an integrated AI infrastructure platform, which it claims combines abundant energy production, large-scale GPU computing, and scalable land expansion opportunities.