Goldman Sachs (GS) is leading financing for a Texas project to develop private power campuses for artificial intelligence, Bloomberg reported Tuesday, citing developer GridFree AI.

The company is working with Newmark (NMRK) to raise equity and credit for the South Dallas One project, which involves natural gas-fired energy generation for several South Dallas data centers, GridFree AI said, according to Bloomberg.

The goal of the first round is to raise "hundreds of millions of dollars" in additional rounds as the project expands, Montauk Capital CEO Philip Krim told the media outlet.

Newmark is the exclusive marketer and advisor for the data hub, according to the report.

Goldman Sachs declined to comment on the matter.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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