America Has the Chips for the AI Boom. The Electricity Is Another Story.

A wave of delays is sweeping this year's data center pipeline, and a new class of developer that builds the power plant alongside the computers is racing to close the gap.

NEW YORK, June 11, 2026

The American artificial intelligence boom has, by most measures, everything it needs. The chips are shipping. The capital is abundant: the four largest technology companies alone plan to spend roughly $725 billion this year on AI infrastructure, a 77 percent increase over 2025, according to a Tom's Hardware tally of first-quarter earnings disclosures. The demand, executives keep insisting, is bottomless.

What the boom is increasingly short of is electricity.

Nearly half of all U.S. AI data center projects planned for deployment in 2026 have been delayed or canceled, held back by power constraints, equipment shortages, permitting challenges and construction delays, according to industry reports cited Thursday by Nixxy, Inc., a Nasdaq-listed AI communications and data infrastructure company, in an announcement that placed the firm squarely inside one of the defining industrial stories of the decade. Industry analysts cited by the company estimate that more than 7 gigawatts of anticipated AI computing capacity may fail to come online as originally scheduled. That is roughly the output of seven large nuclear reactors.

The picture is consistent with what independent researchers have documented for months. Sightline Climate, which tracks 190 gigawatts of announced capacity across 777 large data centers, counted more than 16 gigawatts slated to enter service in 2026 across some 140 projects, yet found only 5 gigawatts under construction as of February, despite typical build times of 12 to 18 months. About a quarter of the capacity expected in 2025 slipped its schedule.

"Given that track record, [it] wouldn't be surprising if 30-50% of the capacity slated for 2026 ends up delayed," Olivia Wang, an analyst at Sightline Climate, wrote in the firm's February data center outlook.

The bottleneck nobody priced in

There is no single culprit. Connecting a large new load to the American grid has become a yearslong undertaking: the Lawrence Berkeley National Laboratory counts more than 2,060 gigawatts of projects waiting in the nation's interconnection queues, and Data Center Knowledge reported in May that projects entering the queue in 2025 face an average wait of more than seven years to power. The hardware is scarce as well. Wood Mackenzie found that lead times for power transformers stretched from about 50 weeks in 2021 to roughly 120 weeks on average by 2024.

The result is a market squeezed to historic extremes. CBRE put North American data center vacancy at a record low of 1.4 to 1.6 percent in the second half of 2025; in Northern Virginia, the industry's capital, vacancy reportedly fell to 0.5 percent. JLL found 73 percent of capacity under construction already pre-leased, and commercial power prices up 30 percent since 2020.

"Power has become the new real estate," Andrew Batson, JLL's head of U.S. data center research, said last August.

Even the companies writing the largest checks have run into the wall. "The biggest issue we are now having is not a compute glut, but it's power," Satya Nadella, Microsoft's chief executive, said on the Bg2 Pod in November. "You may actually have a bunch of chips sitting in inventory that I can't plug in. In fact, that is my problem today." It was a striking admission from the man overseeing a $190 billion annual infrastructure budget.

Building the power plant next door

The industry's answer, increasingly, is to stop waiting for the grid. Forty-six data center projects totaling roughly 56 gigawatts now plan their own behind-the-meter power, according to figures reported by Grist and Marketplace in February. The appeal is speed. On-site gas generation can reach first power in about 18 months, by industry accounts from Data Center Knowledge, SemiAnalysis and the law firm Orrick, compared with grid waits of four to seven years in the busiest markets.

The marquee examples are already rising. In Abilene, Texas, the Crusoe-built Stargate campus ordered 29 GE Vernova aeroderivative turbines totaling nearly a gigawatt. In Pennsylvania, the former Homer City coal plant is being redeveloped as a campus of up to 4.5 gigawatts, with power expected in 2027. "Speed-to-market is the most critical aspect of powering AI development in the United States," Christopher James, the founder of Engine No. 1, which is backing gas-powered campuses in Texas, told Data Center Frontier.

This is the opening Nixxy and Tachyon9 intend to fill.

An integrated bet on the gap

Nixxy's announcement on Thursday was, in form, a progress report on its recently announced strategic combination with Tachyon9 Corporation, a private developer of energy infrastructure, transmission equipment and data center assets, a deal disclosed this week as a binding letter of intent in a securities filing. In substance, it was a thesis statement. The companies argue that the winners of the next phase will be developers who control power, land, financing and compute within a single execution framework, rather than assembling them from third parties in the middle of a shortage. Central to the plan are behind-the-meter gas turbines, generation built on site and outside the interconnection queue.

"We recognized early that AI's greatest bottleneck would not be models or GPUs - it would be infrastructure," Shahal Khan, the chief executive of Tachyon9, said in the announcement. "Our vision with Nixxy/Tachyon9 is to develop an integrated platform capable of delivering power-ready AI infrastructure at a time when the market needs it most. We are building behind the meter gas turbines, so we avoid these delays."

The plan, as described in the announcement and the filing, runs through Williston, N.D. Tachyon9 contributes approximately $64 million in equipment, land option rights for the Nakota project, and a signed LOI for the entire 1 GW development. The combined platform is pursuing approximately $1 billion of planned capital investment, largely through debt facilities and construction loans, backed by projected offtake agreements, with Phase 1, a 120 MW buildout, slated for Q2 2027. Nixxy, for its part, brings its public market platform, telecommunications infrastructure, AI technologies and capital markets capabilities.

The financing architecture mirrors what has quickly become the industry's standard template. As Orrick and S&P Global Market Intelligence have documented, lenders now size data center construction debt against contracted cash flows from long-term offtake agreements rather than against a developer's balance sheet, the structure behind a debt market that nearly doubled to $182 billion of issuance in 2025, with Morgan Stanley projecting some $800 billion more from private credit over two years. For Nixxy and Tachyon9, converting projected offtake into signed contracts is the gating milestone.

The race for hardware is just as real. The behind-the-meter strategy has grown crowded enough that turbines now have a queue of their own. GE Vernova's gas turbine backlog reached 100 gigawatts in the first quarter, and its chief executive, Scott Strazik, said last July that "2026 and '27 are largely sold out; we are approaching filling out '28." Smaller, faster turbine classes still ship in roughly 18 to 24 months, and federal regulators have promised action by this month on fast-tracked interconnection for co-located loads, tailwinds for any developer that locks down equipment early.

Years of scarcity ahead

What gives the integrated model its force is how long the imbalance is projected to last. The International Energy Agency expects global data center electricity demand to more than double by 2030, to roughly 945 terawatt-hours. Berkeley Lab and the Energy Department project that U.S. data centers could consume between 6.7 and 12 percent of the nation's electricity by 2028, up from 4.4 percent in 2023. "No matter how much gets built, we are still going to be in this world of compute scarcity," Greg Brockman, OpenAI's president, told CNBC last September.

For most of the computing era, the binding constraint on the industry was silicon, and the companies that mastered it set the terms. The constraint now is megawatts, and a different kind of developer is being assembled to master it, one that builds its own generation and lines up its own financing before the first server arrives. Whether the North Dakota project becomes a proof point for that model will start to become clear on the schedule Nixxy and Tachyon9 have set for themselves, with the first 120 megawatts due in the second quarter of 2027.

About Nixxy, Inc.

Nixxy, Inc. (NASDAQ: NIXX) is an AI communications and data infrastructure company focused on next-generation digital infrastructure platforms positioned at the intersection of artificial intelligence, high-performance compute, energy, and data center infrastructure. The Company is pursuing large-scale opportunities supporting the rapidly growing global demand for AI compute capacity, sovereign AI initiatives, and next-generation energy-backed digital infrastructure. For more information, visit www.nixxy.com.

About Tachyon9

Tachyon9 is a private operating company specializing in energy infrastructure, transmission equipment, and data center assets. Tachyon9 serves as the primary asset and revenue contributor in the proposed transaction, contributing approximately $64 million in equipment, land option rights for the Nakota project, and a signed LOI for the entire 1 GW development.

Contacts

Investor Relations: Nixxy, Inc., [email protected] Media: John Arundel, Managing Director, Perdicus Global Communications, Washington, DC, [email protected], (703) 963-4191

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the proposed strategic combination between Nixxy, Inc. and Tachyon9 Corporation, planned capital investment, development timelines, projected offtake agreements, and anticipated market conditions. Forward-looking statements are based on management's current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Investors should review the risk factors described in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on April 15, 2026, and other filings with the Securities and Exchange Commission. Nixxy undertakes no obligation to update forward-looking statements except as required by law.