If completed, the project would be among the largest and most expensive natural gas power plants.
Tesla alumni Drew Baglino raises a large round to build a giga-scale factory, this time at his own startup.
The startup is making solid-state transformers capable of intelligently aggregating power from a number of different sources before sending it to data center racks.
Tem has built a transaction engine that relies on AI to cut costs. Lightspeed led the round to help the startup expand to the U.S. and Australia.
The startup has raised more than $500 million, to date, from investors to build a massive, distributed power plant supported by residential batteries.
In an attempt to alleviate rising electricity prices, the White House wants grid operator PJM to hold an auction for new generating capacity, and it wants tech companies to bid.
The electrical grid is facing unprecedented stress from the addition of new data centers. Software could offer a cost-effective way to boost reliability and capacity.