Goldman Helps Lead Financing for 5-Gigawatt Texas AI Power Sites

Goldman Sachs Group Inc. is co-leading financing for a Texas project to build private power campuses for artificial intelligence.

The New York banking giant is working with real estate advisory Newmark Group Inc. to raise both equity and credit for the project building modular natural gas-fired generation serving a cluster of south Dallas data centers, according to developer GridFree AI. Newmark has also been tapped as the exclusive marketer and advisor for the data hub, called South Dallas One.

The aim in this initial round is to raise “hundreds of millions of dollars” with more rounds as the first project ...