Digi Power X gets a $200 million debt commitment for its 40 MW Columbiana, Alabama data center leased to Cerebras
Digi Power X says it has received a commitment letter from a major lending institution for $200 million of debt financing to support its 40 MW AI data center in Columbiana, Alabama, with the financing syndicated by Goldman Sachs. The company expects the financing to close within 90 days, subject to definitive documentation and other conditions, including the lender's diligence. The facility is contracted to Cerebras Systems under a 10 year agreement. [Source 1] [Source 2]
All news & analysisDeals & LeasingColumbiana, Shelby County, AlabamaUnder construction, per the company: Phase 1 targeted for December 2026 and Phase 2 for March 2027. Leased to Cerebras under a 10 year colocation agreement signed May 4, 2026. Debt financing committed, not closed. Not available. As of October 13, 2026.
Disclosed terms
Debt commitment
$200 million commitment letter, syndicated by Goldman Sachs [1]
Expected closing
Within 90 days, subject to conditions including lender diligence [1]
Capacity
40 MW total: 15 MW of IT load in Phase 1 plus 25 MW in Phase 2 [2]
Cerebras, 10 year initial term valued at about $1.1 billion [2]
The disclosure and our analysis
Evidence dates
Evidence: Digi Power X release of October 13, 2026 on ACCESS Newswire; the company's May 5, 2026 release on the Cerebras agreement, filed with the SEC on May 8, 2026; its Form 10-Q for the quarter ended June 30, 2026, filed August 14, 2026.
What the company discloses
**Financing.** A commitment letter for $200 million of debt from a lender the company does not name, syndicated by Goldman Sachs. The debt is to sit at a project special purpose vehicle, with an unsecured company guarantee through project completion and other limited matters. Closing is expected within 90 days and depends on definitive documents and the lender's diligence. Proceeds are for completing the Alabama project and related costs. [Source 1]
**Construction.** The company says construction at the 40 MW campus remains on target, with Phase 1 expected in December 2026 and Phase 2 in March 2027. It reports about $135 million of cash and about $153 million of 2026 capital spending to date, and no shares sold under its at the market program in the third quarter. [Source 1]
**Tenant and capacity.** In May, Digi Power X announced a colocation and master services agreement with Cerebras Systems for the Columbiana facility. It described Phase 1 as 15 MW of IT load and Phase 2 as an incremental 25 MW, for 40 MW in total, built to Tier III standards. It valued the initial 10 year term at about $1.1 billion, and up to $2.5 billion including renewals. [Source 2] The 10-Q says the agreement was signed May 4, 2026, that Cerebras holds an exclusive license to the data center for the term, and that the company was then seeking project level financing. [Source 3]
Buyer analysis
This is our analysis.
**A commitment letter is not funded debt.** Diligence and documentation still have to clear. Until closing, the company is funding construction largely from its own cash.
**Small AI builds can now attract bank debt when a tenant is signed.** A 40 MW single tenant site with a 10 year contract is the kind of project lenders will syndicate. Buyers planning their own builds of this size should expect lenders to ask for that same contract term and tenant credit.
**This capacity is spoken for.** Cerebras has exclusive rights to the facility for the term. It is not available to other buyers.
**Watch December.** Phase 1 is 15 MW of IT load due in December 2026. Delivery against that date will show whether the schedule holds.
What remains unknown
The reviewed sources do not name the lender, or disclose the interest rate, tenor, covenants or rent per kW. They do not confirm energization or power supply terms for the Columbiana site, or the status of the company's other expansion plans.
Fermi America says it has signed a credit support agreement with AMD supporting the lease for phase one of Project Matador in Carson County, Texas, which Fermi describes as 222 MW of gross power capacity in line with its first customer lease announced August 10, 2026. Fermi calls the agreement a key milestone toward securing project financing. The two companies also signed a framework for future expansion of up to 650 MW of gross power capacity. [Source 1]
Carson County, Texas · Leased, with closing pending. A signed lease with TensorWave TEX1 has a closing deadline of October 31, 2026, per Fermi's September 22 release. AMD credit support is signed but subject to conditions. Project financing is not complete. Not available. As of October 13, 2026.
Boost Run disclosed on October 6, 2026 that its subsidiary signed a service agreement with Cohere on September 30 to provide dedicated GPU cloud infrastructure. Cohere committed to pay about $525.6 million over the term, subject to delivery and acceptance. Each rack runs about five years from Cohere's acceptance, which is expected to begin in the second quarter of 2027. If a minimum amount of infrastructure is not accepted by July 15, 2027, Cohere can terminate and get its prepayment back. The filing does not name a facility or disclose MW or GPU type. [Source 1] [Source 2]
Not disclosed · Signed service agreement for dedicated GPU cloud infrastructure, executed September 30, 2026 and disclosed October 6, 2026. Rack acceptance expected to begin in the second quarter of 2027. Facility, MW and GPU type not disclosed.
AIB Data Centers disclosed on September 30, 2026 that it executed a master colocation services agreement in September for 50 MW of critical IT capacity at its CLT-01 site in South Carolina. The initial term is 12 years with two five-year renewal options. AIB lists a guaranty from Nebius, and its press release names Nebius as the customer. Delivery is planned in two 25 MW data halls. [Source 1] [Source 3]
CLT-01 site, South Carolina · Leased (master colocation services agreement executed September 2026 for 50 MW of critical IT). Not delivered: construction design submitted for permits and utility service scheduled to begin October 1, 2026, as of September 30, 2026.
