Oracle Data Center Delays Hit New Mexico Stargate Site as Co-CEO Calls On-Time Assumption a Bad Plan

VoltaGrid announced the closing of equity investments previously announced on May 11, 2026, comprising a $775 million primary investment and an upsized secondary investment. The primary investment came from funds managed by Blackstone Tactical Opportunities and from Halliburton Company. The secondary investment from existing investors was upsized from $225 million to $800 million and was comprised of purchasers that included institutional and other investors. The secondary purchases provided liquidity to certain existing members of the Company and did not result in additional proceeds to the Company. The investments broaden VoltaGrid's long-term investor base as it scales its buildout of behind-the-meter power generation capacity for data center, microgrid and industrial customers across North America. J.P. Morgan Securities LLC, Barclays and TD Securities acted as placement agents, and Sidley Austin LLP served as legal advisor to VoltaGrid.

EquipmentShare.com Inc. announced a multi-year fleet agreement with Cummins Inc. to deploy up to 1 gigawatt of natural gas power generation capacity across major U.S. energy projects, centered on Cummins' C1400N6C lean-burn gas generator sets. The arrangement gives Cummins a rental and distribution partner focused on temporary power, microgrids, and battery storage solutions that can offer contractors energy cost reductions of 50% to 80% versus traditional mobile power. The deal adds another outlet for Cummins' natural gas generation and microgrid solutions, though the company's near-term swing factor remains whether it can avoid repeat EPS and EBITDA misses as incentives, tariffs and Accelera losses weigh on company-wide margins. Cummins' Q2 2026 update paired record Power Systems revenue of US$2.3b with a lower year-on-year EBITDA margin and trimmed Distribution guidance. Cummins' narrative projects $45.3 billion revenue and $5.7 billion earnings by 2029, requiring 9.2% yearly revenue growth and about a $3.0 billion earnings increase from $2.7 billion today, while some optimistic analysts had penciled in around US$50.5b of revenue and US$6.4b of earnings by 2029.

Wärtsilä, Schneider Electric and Stanley Consultants have launched a coordinated "Generator-to-Chip" approach aimed at helping U.S. data center developers and operators bring scalable power capacity online faster. The approach aligns onsite power generation, electrical infrastructure, automation, engineering and project execution from the outset, connecting the power pathway from generation and electrical distribution through to digital monitoring and the IT load, which the companies say reduces handoffs and improves coordination across critical interfaces. Wärtsilä supplies flexible, modular engine power plants for reliable onsite generation that can start rapidly and scale with data center demand, while Schneider Electric contributes the integrated electrical architecture, automation and digital power management, and Stanley Consultants provides technical and advisory services across the data center lifecycle, including engineering, permitting, design coordination, construction management, commissioning oversight and climate resilience expertise. The companies said the combined solution can accelerate project schedules compared with traditional, sequential delivery models, as lengthy grid interconnection timelines and delays in critical power infrastructure slow projects amid rapidly growing U.S. demand for new data center capacity driven by accelerating investment in AI. Risto Paldanius, Vice President, Americas, at Wärtsilä Energy, said power has become the schedule for many data center projects, and Melton Chang, Executive Vice President, Power Systems at Schneider Electric, said an AI Energy Park starts with the load and coordinates generation, electrical infrastructure, automation and digital technologies as one system.