Nvidia Set to Pour Hundreds of Millions into Power Developer Cloverleaf

Nvidia is in advanced talks to invest hundreds of millions of dollars into Cloverleaf Infrastructure, a power developer that secures utility agreements for data-center sites. According to The Wall Street Journal, Nvidia is close to finalizing a deal with Cloverleaf, which could be announced as early as Friday.

Cloverleaf's business model involves signing power agreements with utilities so that developers can build on land with access to reliable electricity. Since its founding in 2024, the company has sold projects comprising more than 7 gigawatts of powered land to data-center developers, including sites in Wisconsin destined for Oracle and OpenAI.

This investment would represent Nvidia's third known infrastructure power investment in a compressed period. The chipmaker has also taken an equity stake in SoftBank's SB Energy and committed $2 billion to Lancium, the power developer behind a campus in Abilene, Texas, where OpenAI rents computing capacity from Oracle.