By Elias Schisgall

Texas Pacific Land shares rose after the company said it was partnering with Bolt Data & Energy to develop data-center campuses across its West Texas land holdings.

Shares were up 6% to $869.75. The stock has fallen 21% this year.

Bolt, which is run by former Google Chief Executive Officer Eric Schmidt, said it had raised $150 million of capital, including a $50 million investment from TPL, to pursue the projects. TPL will receive an equity interest, warrants and a right of first refusal to supply water to Bolt-affiliated projects and related infrastructure, it said.

Schmidt said TPL's land holdings in the oil-rich Permian Basin would support Bolt's goal of minimizing the time between computing demand and delivery.

"To be a reliable provider, Bolt will also focus on power production: natural gas-fueled, renewable, and ultimately, nuclear," Schmidt said. "TPL's vast West Texas holdings and their expertise in land, energy, water, and regulatory execution makes them a uniquely capable partner."

TPL CEO Ty Glover said the partnership lets the company capitalize on the rush of computing demand for artificial intelligence.

"We believe West Texas has the attributes necessary to become one of the largest concentrations of AI compute infrastructure globally, and combined with TPL's ownership of nearly one million acres, our collaboration with Bolt is designed to help realize that opportunity," he said.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

December 17, 2025 11:34 ET (16:34 GMT)

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