Nvidia (NVDA) plans to invest $2 billion in Lancium, with another $1 billion potentially available as the power developer adds new capacity, The Information reported Friday, citing unnamed people familiar with the transaction.

The initial investment would give Nvidia about a 20% interest in the Blackstone-backed (BX) company, which would rise to roughly 30% if Lancium meets certain milestones tied to bringing additional power capacity online, according to the report.

The transaction values Lancium's business, including its land holdings and electricity connections, at about $10 billion on an enterprise-value basis, the report said.

Nvidia did not immediately respond to MT Newswires' request for comment.

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