NVIDIA is reportedly interested in taking an equity stake in Stargate’s power supplier, and the overall valuation could reach $10 billion.

According to Beating monitoring, Stargate is an AI data center plan promoted by companies including OpenAI, SoftBank, and Oracle, with a plan to invest $500 billion in the United States over four years. Lancium, which is responsible for the first Texas campus’s land and power-supply facilities, is currently in talks with several technology companies about selling a minority stake.

Nvidia has expressed interest. The overall valuation of the deal for Lancium could be as high as $7 billion to $10 billion, including the company’s debt. Anthropic has also contacted Lancium, but it did not enter into formal negotiations.

Lancium is mainly looking for land suitable for building data centers, obtaining grid-connection permits, and building power-supply facilities such as substations. At Stargate’s Abilene campus in Texas, Lancium handles the land and power infrastructure, while Crusoe is responsible for building the data centers.

What the technology companies are interested in is not only the land, but also the grid-connection permits and power capacity that Lancium has already secured. These resources can help large data centers start construction and get powered up faster.