Nvidia is reportedly set to lease a data center being developed by Tract Capital's Fleet Data Centers in Storey County, Nevada.

Bloomberg reports that the data center, planned to offer 200MW of capacity, will be developed through the sale of a $3.8bn junk-bond sale.

Nvidia will lease the site for an initial 16 years, and has the option to extend the tenancy for a further two 10-year periods.

Further details about the data center, including development timelines and number of buildings, have yet to be provided.

Tract declined to comment to the publication, while Nvidia has yet to respond.

Fleet Data Centers was launched in January 2026 with the goal of developing "mega-scale campuses with a prioritized target of single-user campuses" of 500MW and above.

At the time of launch, Fleet said it would start with up to 3GW of development in North America, but details on where Fleet would be developing, beyond “key US markets,” were not shared.

Fleet 1 is the company's inaugural fund for the company, being raised under SV RNO Property Owner 1. Fleet 1 was expected to contribute around $620m to the project, while the bond-sale - increased on Thursday, February 12 by $150m to $3.8bn - will be used to fund the construction.

Also under Tract Capital is the Colorado-based Tract, founded by former Cologix CEO Grant van Rooyen, and describes itself as a company that acquires, zones, entitles, and develops ‘master-planned’ data center parks.

Tract first announced plans to develop a property in Storey County, Nevada, in October 2023, acquiring further parcels of land in June 2024, bringing its total land ownership in the area to more than 11,000 acres.

The project has been subject to lawsuits due to its proximity to a Switch campus and Switch's covenant that prevented colo data centers from being built in the area. Tract has disputed this, arguing that the data center being developed is not colo but instead a single-tenant, wholesale, or cloud facility and thus could be constructed on the land.

Nvidia runs its own data centers and gets additional capacity by leasing space from cloud providers such as Amazon Web Services and Microsoft Azure. The company has also signed deals with neoclouds, including CoreWeave and Lambda.