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The Markets Desk — Week 45 · Fri 6 Nov 2026
Compute / Build-out · week to 6 Nov 2026

The build-out, floor by floor, one week at a time.

From models at the top to permits at the bottom: what switched on, what was announced and what got stuck in the week from 31 Oct 2026 to 6 Nov 2026. Every mark is a dated row with its source.

← Week to 30 Oct 2026
A model of an AI campus hall, its copper gantry crane over rows of machines.
The build-out mapRows, never forecasts
Switched on
Nothing filed this week
Announced
Nothing filed this week
Stuck
Compute market 3 · gone quiet: State commercial power sales
Biggest constraint move
No list prices from Azure this week (5 terms)
Next due
Abernathy · "in the second half of 2026"
This week
0 · 0 · 3
switched on · announced · stuck, counted per floor and never added across families · 6 series not read
Hover or tap
Each floor is a layer of the build-out; each mark one dated row of the week
Solid: switched on, as filed or measured. Hollow: announced. Hanging: stuck. A faint stub: a series we list but cannot read.
Every mark is a stored, dated row with its source · nothing forecast is drawn as data · a floor with no rows says so

Models and demand

    Money

    • Data-centre debt filed: not collected

    Compute market

    • No list prices from Azure this week (5 terms) (2026-11-06)
    • No list prices from Lambda this week (1 term) (2026-11-06)
    • No Vast.ai offers read this week (1 term) (2026-11-06)

    Accelerators and fab

      Memory

      • HBM statements: kept by hand
      • Korean memory exports: key parked

      Optics

        Data centres

          Power and grid (context)

          • State commercial power sales: stale
          • Transformer and turbine imports: key parked

          Permits and land

          • Local votes against: kept by hand

          Floor by floor

          Models and demand

          Nothing filed this week.

          Money

          Nothing filed this week.

          Not read this week: Data-centre debt filed (not collected)

          Compute market

          Stuck · 3

          Accelerators and fab

          Nothing filed this week.

          Memory

          Nothing filed this week.

          Not read this week: HBM statements (kept by hand) · Korean memory exports (key parked)

          Optics

          Nothing filed this week.

          Data centres

          Nothing filed this week.

          Power and grid (context)

          Nothing filed this week.

          Not read this week: State commercial power sales (stale) · Transformer and turbine imports (key parked)

          Permits and land

          Nothing filed this week.

          Not read this week: Local votes against (kept by hand)

          The pipeline, Texas · three ladders, never added

          What the campuses filed, what ERCOT counts in its own queue, and what Epoch estimates. Each is its own family, kept apart.

          Filed as energized
          0 MW
          across the 8 Texas campuses on the register
          Promised by now, not yet filed
          Stargate Abilene · energized (in mid-2026)
          Campus · stage
          Hover or tap a bar
          Solid is filed as happened; hollow is promised. Height is the largest stated figure; each basis is listed apart, never added.
          • Abernathy: Contracted: 240 MW gross, 168 MW critical IT, filed 28 Oct 2025; Delivered: 168 MW critical IT, promised in the second half of 2026
          • Barber Lake: Contracted: 244 MW up to (a ceiling), 168 MW critical IT, filed 25 Sept 2026; Delivered: 168 MW critical IT, promised between the fourth quarter of 2026 and the first quarter of 2027
          • Beacon Point: Contracted: 352 MW IT load, filed 6 May 2026
          • Colchis: Announced: 1,000 MW basis unstated, filed 13 Oct 2026
          • CoreWeave Denton: Contracted: 260 MW critical IT, filed 27 Feb 2025
          • Helios: Contracted: 526 MW critical IT, filed 5 Aug 2025; Delivered: 200 MW gross, 133 MW critical IT, filed 5 Aug 2026; Delivered: 260 MW critical IT, promised 2027
          • IREN Childress: Contracted: 200 MW IT load, 60 MW up to (a ceiling), filed 7 May 2026; Delivered: no megawatts stated, promised by year-end
          • Stargate Abilene: Under construction: 1,200 MW basis unstated, filed 21 May 2025; Energized: 1,200 MW basis unstated, promised in mid-2026, late
          Drawn against asked
          4,316 MW / 321,000 MW
          Observed monthly peak (16 Sept 2026) against no studies submitted (13 May 2026). ERCOT's own buckets, each at its own date.
          Bucket
          Hover or tap a ring
          Each ring's area is its megawatts. Buckets are ERCOT's own, separate counts, not a running total.
          • No studies submitted: 321,000 MW, ERCOT, 13 May 2026
          • Under ERCOT review: 93,700 MW, ERCOT, 13 May 2026
          • §9.5 requirements met: 22,000 MW, ERCOT, 13 May 2026
          • Approval to energize: 9,456 MW, ERCOT, 16 Sept 2026
          • Observed energized: 5,900 MW, ERCOT, 13 May 2026
          • Observed monthly peak: 4,316 MW, ERCOT, 16 Sept 2026
          Epoch’s estimate
          15,138.431 MW
          IT power on the campuses it tracks (96), as of 5 Nov 2026: a covered total, never a world total

          Demand meter · each grid against itself a year earlier

          Electricity each grid operator served in the week to 6 Nov 2026, from EIA’s hourly grid data, against the same seven days a year earlier. Weather moves these from week to week, so a change on the year is not all data centres. Each grid is its own figure; none is added to another.

          Not collected for this week yet: EIA writes a week once all its hours are in

          Power sold to commercial customers, August 2026

          The closest public read of data-centre load, from EIA’s monthly survey of utilities. It lands about two months after the month it counts.

          • Virginia8,503 GWh+0.5%
          • Texas18,258 GWh+7.8%
          • Georgia6,132 GWh+13.2%
          • Ohio6,010 GWh+8.4%
          • Arizona4,548 GWh+12.3%
          Henry Hub gas
          $2.95 per MMBtu
          September 2026 average, from EIA’s Short-Term Energy Outlook · −0.7% on the year. The fuel behind most new generation: context only.

          Bottlenecks

          Grid basics, explained →
          Gas generation due in 2026-09 that arrived on time (EIA-860M)
          Turbine backlogLast reading 28 Oct 2026
          Grid equipment pricesLast reading 1 Sept 2026
          Weekly grid demandLast reading 30 Oct 2026
          State commercial power salesLast reading 1 Aug 2026
          Henry Hub gas priceLast reading 1 Sept 2026
          Transformer and turbine importskey parked
          Local votes againstkept by hand

          What the map reads, and how fresh it is

          • Model releases4 Nov 2026fresh
          • Provider incidents5 Nov 2026fresh
          • Model retirements14 May 2028fresh
          • Data-centre debt filed—not collected
          • Taiwan monthly revenue1 Sept 2026fresh
          • MLPerf rounds16 Sept 2026fresh
          • Export controls20 Nov 2026fresh
          • HBM statements—kept by hand
          • Korean memory exports—key parked
          • Optics backlog3 Sept 2026fresh
          • Data-centre construction spend1 Sept 2026fresh
          • Turbine backlog28 Oct 2026fresh
          • Grid equipment prices1 Sept 2026fresh
          • Weekly grid demand30 Oct 2026fresh
          • State commercial power sales1 Aug 2026stale
          • Henry Hub gas price1 Sept 2026fresh
          • Transformer and turbine imports—key parked
          • Local votes against—kept by hand

          How the map is kept

          • The week runs Saturday to Friday, the same week as the compute board.
          • Switched on means filed or measured: a filing that says energized or delivered, a price the Tape wrote, a figure a statistics office published.
          • Announced means a promise, an order or a deal: hollow until something switches on.
          • Stuck means a date moved, a promise came due unmet, a price feed went quiet, or a rule or vote added a constraint.
          • Filed figures, ERCOT’s meter, Epoch’s estimate and EIA’s generator data are separate families and are never added together.
          • A floor with no rows says so. A series we list but cannot read shows as not read, with the reason.
          • Power and the grid are here as context for the build-out. Nothing on this page is a trade idea.