CleanCore formed a joint venture to build a 55 MW Minnesota data center, backed by an $800 million, 10-year lease with Cerebras, an AI chip and compute provider. The lease secures revenue before buildout.

AI compute providers are securing dedicated data center capacity years ahead, rather than relying on multi-tenant facilities. The deal signals a premium, reflecting tight AI-driven demand for power and space.

The 10-year, single-tenant lease at 55 MW shows concentrated AI compute demand on grid and site power and cooling infrastructure. When one customer’s workload defines a facility’s economics for a decade, sustained uptime on power delivery and thermal management is the core deliverable. Capacity lost to overheating or unplanned outage is capacity the operator is contractually liable for.

Source: TradingView