Welcome to the first edition of BuildOut — your go-to source for the news behind the supply chains powering the AI boom. Each issue breaks down the news driving the infrastructure that powers the physical world of AI — chips, data centers, energy, cooling, construction, and logistics.

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The AI boom is accelerating faster than any shift in recent history — BuildOut keeps you on top of the physical infrastructure, making it possible.

Now, a bit of housekeeping:

Let’s dive into today’s issue.

A sweeping shift is underway across the U.S. Bitcoin mining sector: the country’s largest miners are pivoting their data centers into AI compute hubs as crypto economics collapse and demand for GPU-rich capacity explodes.

What’s happening? Over the past 18 months, at least nine publicly listed mining companies — including Riot, Core Scientific, Bitfarms, TeraWulf, CleanSpark, Cipher Mining, IREN, MARA, and Bit Digital — have announced partial or full transitions from bitcoin mining to AI/HPC hosting. Collectively, miners have signed more than $43 billion in AI and HPC contracts, according to CoinShares.

The metamorphosis: Riot’s massive Corsicana, Texas facility, once projected to become the world’s largest Bitcoin mine, two-thirds of it is now being repurposed as an AI megafactory.

The bigger picture: Bitcoin miners helped build the modern high-density data-center model. The AI boom is now turning America’s crypto mines into the next frontier of AI infrastructure.

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Microsoft is rolling out a $23 billion global AI infrastructure push — and India is the clear priority. The company will invest $17.5 billion over the next four years to scale hyperscale data centers, boost AI-ready cloud capacity, and plug its models into national digital platforms. A new data center coming online in mid-2026 is set to give Microsoft the largest hyperscale footprint in the country.

Why it matters: The move aligns with India’s push for AI sovereignty and comes as global tech giants race to lock in GPU-rich infrastructure across Asia.

Microsoft also announced a C$7.5 billion expansion of its Azure regions in Canada, part of a C$19 billion spending plan through 2027 — another step in its bid to cement global AI infra leadership.

NextEra Energy is making one of the largest utility-led power commitments of the AI era, announcing plans to build 15 gigawatts of new generation capacity for U.S. data center hubs by 2035. CEO John Ketchum called the target “fairly conservative,” suggesting the company could scale to 30 GW if demand continues accelerating.

Power partners: NextEra also announced a new partnership with Google to develop three gigawatt-scale data-center campuses in the U.S., with additional sites planned. The hubs will draw from nuclear, natural gas, and renewables — including a power purchase deal to restart Iowa’s Duane Arnold nuclear plant.

President Donald Trump announced that he will sign an executive order instituting a nationwide AI rulebook, overriding state approval processes and centralizing authority in Washington.

What’s the news: Trump announced in his Truth Social post, arguing that “50 states” with different rules would slow the U.S. in the global AI race. According to reports, the White House is pushing to insert a federal AI framework into this year’s defense bill.

Why it matters: Centralizing AI regulation could speed up data-center construction, energy approvals, and AI-infrastructure deployment. It also sets up a federal–state clash just as AI demand is straining grids, land, permitting, and utilities.

Brewing opposition: Some Republicans — traditionally pro–states’ rights — are pushing back. State lawmakers from both parties warned that federal preemption would eliminate local AI laws governing transparency, procurement, patient protections, and copyright.

Boom Supersonic, known for its work on a next-generation supersonic airliner, is expanding into energy with a 42-megawatt natural-gas turbine derived from its Symphony engine core. AI infrastructure firm Crusoe has placed an order for 29 units to power its upcoming data centers.

Capital power: Boom raised $300 million to bring its Superpower turbine to market, led by Darsana Capital Partners with Altimeter, Ark Invest, Bessemer, Robinhood Ventures, and Y Combinator participating.

Why does this matter? AI data centers need huge amounts of reliable power. Utilities in many regions can’t keep up, so companies like Crusoe are turning to on-site generation. Boom is stepping into that gap with a turbine designed to operate at high temperatures without water, a major bottleneck for data center growth.

The bigger picture: Boom plans to scale production to over 4 gigawatts a year by 2030. Revenue from these turbines will also help fund its supersonic aircraft program.