THE_COMPUTE

Issue 003 · Jun 24, 2026

The Data Center Wants Its Own Power Plant

The campus becomes a utility

Issue 003. The data center used to be a customer of the electric grid. Increasingly, it is a competitor to it.

This week: behind-the-meter generation and the campus-as-utility, the liquid-cooling supply chain that GB300-class racks made mandatory, and the frontier bid that just went public at a $2 trillion valuation — SpaceX's orbital data center program, read against the risk factors in its own S-1.

Data CentersPower

The Data Center Wants Its Own Power Plant

Behind-the-meter generation, restarted reactors, and gas turbines in the parking lot: the campus is becoming a utility.

Aaron · 2 min readRead →

CoolingData Centers

Cooling Is Eating the Rack

At 130 kW per rack, air is over. Liquid cooling is now a first-order design constraint — and a supply chain of its own.

Aaron · 2 min readRead →

FrontierPowerCapital

The Orbital Bid

SpaceX just took the orbital data center public at a $2 trillion valuation — while its S-1 quietly admits the idea may never make money. Both facts are the story.

Aaron · 3 min readRead →

Signals from the prediction markets

Market odds are point-in-time snapshots, not endorsements.

Reading