A startup co-founded by former Google CEO Eric Schmidt, Bolt Data & Energy, has announced a $150 million capital raise and a partnership with Texas Pacific Land Corporation (TPL), which is contributing an additional $50 million. The collaboration aims to build large-scale data centers on TPL’s land in West Texas, responding to growing demand for AI infrastructure.
According to the joint press release, “TPL will receive an equity stake, warrants and a right of first refusal to supply water to Bolt-affiliated projects and related infrastructure.” In turn, Bolt is securing commercial partners and anchor tenants for new data hubs located on land controlled by TPL.
Texas Pacific Land Corporation has transitioned from its origins as a land trust into a prominent player in technology-driven real estate. Founded over 100 years ago, the Dallas-based company owns about 882,000 acres—primarily in the oil-rich Permian Basin—and its market value has approached $40 billion after tripling this year.
Bolt Data & Energy positions itself as a vertically integrated alternative to traditional data center developers. The company’s approach includes not only constructing server farms but also focusing on power generation from natural gas and renewables initially, with nuclear energy planned for the future. This model seeks to reduce the time between rising demand and delivery of scalable data solutions.
“West Texas is emerging as a compelling data center market,” according to industry observers. Factors include some of the lowest natural gas prices in the U.S., plentiful available land, and fewer regulatory barriers compared to coastal regions. Major technology firms such as Alphabet, Microsoft, and Amazon have shown interest in West Texas for their own AI-related computing needs due to these advantages.
TPL’s business model involves monetizing its extensive holdings through royalties, leases, easements, and permits linked to pipelines and other industrial uses rather than direct resource extraction. Data centers fit into this strategy by offering stable long-term leases without exposing TPL to commodity price risks associated with energy production.
The agreement between Bolt Data & Energy and TPL follows increased activity among tech companies developing data centers across Texas. Companies like OpenAI’s Stargate initiative and Nvidia-backed ventures are planning significant projects in West Texas. State filings indicate that new data center construction budgets in Texas exceeded $1.4 billion just in December 2025—over 40 percent of all registered U.S. projects for that period.
“This tie-up positions Bolt Data to develop large-scale data centers on Texas Pacific’s sprawling West Texas holdings, as demand for energy-hungry AI computers accelerates,” Bloomberg reported.
The partnership underscores ongoing investment trends as both established tech firms and newer entrants expand their presence in regions offering favorable conditions for high-capacity computing infrastructure.
