New Era Energy & Digital (NASDAQ:NUAI) said its joint venture with Sharon AI, Texas Critical Data Centers LLC (TCDC), has signed a definitive agreement to acquire an additional 203 contiguous acres for its planned artificial intelligence and high-performance computing campus near Odessa, increasing the total development area to 438 acres.
The larger site is intended to support a multi-phase, multi-gigawatt data-center complex that can scale beyond 1 gigawatt (GW) to meet growing demand for AI and GPU-intensive computing, according to the company. New Era said it is in active commercial discussions with prospective tenants.
The property is located near high-capacity fiber paths, intrastate natural-gas transmission lines, and CO₂ pipeline corridors, features the company says will help reduce development timelines and enable efficient integration of power, cooling, and digital infrastructure.
TCDC is being designed to incorporate advanced energy and cooling systems and maintain flexibility for potential carbon capture, utilization, and storage technologies. New Era said the project is expected to support long-term recurring revenue through data-center leases, power sales, and other commercial arrangements.
With the land expansion secured, engineering, master planning, interconnection studies, and civil-development work are underway as the venture prepares for a targeted Phase 1 construction start in 2026.
New Era said the Texas project, along with its recently announced 7-GW site in New Mexico, is expected to contribute to job creation and continued investment in digital and energy infrastructure across the western United States.
“We are designing a multi-gigawatt, vertically integrated platform to serve the accelerating demands of the AI economy, and this expanded footprint gives us the scale, flexibility, and efficiency to execute with speed and discipline,” New Era CEO E Will Gray II said in a statement.
“It positions us to deliver the high-value, long-duration energy and compute infrastructure hyperscale operators require—and to generate durable value for our shareholders for many years to come.”
Shares of New Era added 15.4% at about $4.40 on Monday afternoon.