$NUAI as a company today is materially different from what it was a year ago. The current thesis is TCDC, a planned AI data center campus in West Texas. The first phase is planned at 200MW, with the campus designed to scale toward 1.4GW. To help turn that plan into an operating campus, NUAI has signed a non-binding LOI with Stream Data Centers to form a joint venture for the development and financing of TCDC. Stream has more than 25 years of experience, has delivered over 20 data center campuses and says more than 90% of its inventory is leased to Fortune 100 companies. Under the proposed joint venture, NUAI would contribute the TCDC site and its local energy relationships. Stream would provide the experience needed to develop the campus, find tenants and operate the completed facilitie
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