Data center profile · Burlington, Milam County, Texas (County Road 134)

Stargate Milam County (SB Energy)

SB Energy's two-building campus for OpenAI near Burlington, Texas: 753 MW of leased IT capacity inside a 1,200 MW plan, under construction, with generation the developer says it has developed

Under construction. Both buildings are in construction, and OpenAI signed leases for them in Jan. 2026. SB Energy's Sept. 2026 IPO filing lists both as ready for service in 2028 and says no data center capacity is operating yet.
Stargate Milam County (SB Energy) - site frame on CR 134, Satellite image, Nov. 23, 2021
753 MW
IT capacity under the OpenAI leases
Building 1 about 308 MW, Building 2 about 445 MW (SB Energy's prospectus)
1,200 MW
campus SB Energy and OpenAI describe
company says; the rest beyond the leased buildings is not under lease
1.3 GW+
new generation SB Energy says it has developed in Milam County
company says; co-located assets to serve a substantial part of the campus
2028
ready-for-service date for both buildings in the prospectus
a state filing lists Phase 1 completion on Oct. 15, 2026
OperatorSB Energy (a SoftBank company)
CustomerOpenAI, through its affiliate Orion DC I (leases guaranteed by OpenAI)
Planned IT capacity960 MW at full build-out (our estimate from the company's 1.2 GW campus power figure)
First building in serviceOur estimate: 2027 (range 2026 to 2027); company says 2026.
Next deadline2028: Both buildings listed as ready for service in 2028 (SB Energy prospectus)
The site

The site from above

Satellite overview1
Satellite image, Nov. 23, 2021. Pin: Stargate Milam County, SB Energy) - site frame on CR 134.
Quarter by quarter

Watch the site change

One clear satellite frame per quarter, July 2025 to October 2026. Drag the slider or press play.

Satellite view of the campus, Oct. 7, 2026

Sentinel-2 satellite, 10 m resolution (coarser than the photos above).
Power

Power and the grid

None energized or contracted yet

SB Energy generation and storage (company says)Developed, per the company; not confirmed built
1,300 MW
more than 1.3 GW of new generation in the county, company says; the technology mix and how much serves this campus are not disclosed SEC filing · Sept. 2026
Proposed
Related generation and energy contracts (context, not added to campus supply)
Not used, not on record, or dropped

Getting on the grid

Who supplies what, what it costs, and what is still not public.

  1. Jan. 13, 2026
    Developer pledges to supply the power
    OpenAI's community plan says SB Energy will build and fund new generation and storage to supply most of the campus's power; no power purchase or service agreement is public. News report · Jan. 2026
  2. Sept. 21, 2026
    Prospectus describes co-located power
    SB Energy's IPO filing says co-located assets are expected to serve a substantial portion of the campus under on-site supply agreements. SEC filing · Sept. 2026
  3. Sept. 21, 2026
    Texas pauses data center permits
    The governor directs state environmental regulators to pause new data center permits until ERCOT finishes a large-load review, due Dec. 10, 2026; projects already under construction are described as in a different position. News report · Sept. 2026
Permits

Permits checklist

4 granted · 1 checked, nothing on file

Risks

What could slow it down

Money

Money on record

$470M
Phase 1 building cost on the state filing
one building filing, not the campus total News report · April 2026
$1B
equity into SB Energy: $500M from OpenAI and $500M from SoftBank (Jan. 2026)
company-level capital, not project financing Company · Jan. 2026
$800M
preferred equity from Ares funds into SB Energy
secured in 2025; company-level Company · Jan. 2026
$5-7B
IPO raise reported (press), at about a $50B valuation
the offering was reported delayed in Sept. 2026; no campus-level project loan is disclosed Company · Sept. 2026
Timeline

What happened, and what is due

SitePaper trailConstructionPowerPermitsMoneyLegalUpcoming
  1. March 28, 2025
    Permits Texas issues stormwater coverage for a site named SB Energy Orion Data Center on County Road 133. State agency · March 2025
  2. Sept. 23, 2025
    Site OpenAI, Oracle and SoftBank name Milam County one of five new Stargate sites, with SB Energy providing powered infrastructure. Company · Sept. 2025
  3. Oct. 2025
    Construction Groundbreaking reported at the site. News report · Oct. 2025
  4. Dec. 8, 2025
    Permits The county commissioners take up an addendum to SB Energy's tax abatement agreement; the original deal was signed earlier. Local government · Dec. 2025
  5. Jan. 9, 2026
    Money OpenAI signs two 15-year leases, one for each building. SEC filing · Jan. 2026
  6. March 2026
    Construction Phase 1 tops out, according to OpenAI's Stargate lead at the time (press). News report · April 2026
  7. April 22, 2026
    Permits A state filing shows a 548,950 sq ft first building costing $470M, due to finish Oct. 15, 2026. News report · April 2026
  8. May 6, 2026
    Permits Texas issues an air registration for the site. State agency · May 2026
  9. Sept. 21, 2026
    Money SB Energy's amended IPO filing lists 753 MW of leased IT capacity, both buildings in construction, ready for service in 2028. SEC filing · Sept. 2026
  10. Oct. 2, 2026
    Permits Texas issues construction stormwater coverage for Building 1. State agency · Oct. 2026
  11. Dec. 10, 2026
    Permits ERCOT's large-load review is due to the Public Utility Commission; the state permit pause runs until it is done. News report · Sept. 2026
  12. 2028
    Construction Both buildings are listed as ready for service in SB Energy's prospectus. SEC filing · Sept. 2026
Construction activity

Building activity by quarter

Since Nov. 2021: 3 FAA filings (Jan. 2026 to Sept. 2026): tallest crane 350 ft (Sept. 2026); 76 satellite captures.

FAA filings
Satellite
’22
’23
’24
’25
’26
Dot size: records in the quarter, largest = 6. Two-digit years mark each first quarter.
The buildings

Specs

2 buildings
Building 1 and Building 2, leased in full to OpenAI
News report · Jan. 2026
548,950 sq ft
Phase 1 building: one story, four data halls, filed cost $470M
News report · April 2026
15-year leases
triple-net, two 10-year extensions; OpenAI can buy out if ready-for-service conditions are missed
SEC filing · Jan. 2026
Who is involved

Owners, partners and builders

Developer and owners
  • SB Energy, Inc.: developer and operator, SoftBank-controlled, filed to list as SBE
  • Milam County DC, LLC: landlord and site owner
  • SoftBank Group: controlling shareholder
Tenant
  • OpenAI: tenant through Orion DC I, LLC, guaranteed by OpenAI Global, LLC; also an equity investor and warrant holder
Builders
  • DPR Construction and Sundt Construction (joint venture): general contractor
  • M.C. Dean: electrical and power subcontractor
  • Corgan Architects: design firm on the state filing
Investors
  • Ares Infrastructure Opportunities funds: $800M preferred equity
  • NVIDIA: investor in SB Energy, not tied to this campus
Government
  • Milam County Commissioners Court: tax abatement
  • Texas Commission on Environmental Quality: permits and the pause
Builders on site
  • DPR Construction / Sundt Construction (joint venture): General contractor
Still unknown

Open questions

Where this comes from

376 records from 33 documents

Drawn from news reports, company statements, state agency records, public and commercial datasets, securities filings, local government records and satellite captures, each kept with its date and source. The bar shows documents by type.

News report 17Company 6State agency 3Dataset 3SEC filing 2Local government 2Satellite 1
Evidence

Every quote behind this page

Grade key: A = the primary record itself (permit, filing, exhibit) · B = a dated official statement · C = news reporting. Map distances are our own measurements on OpenStreetMap and carry no grade. Allegations in lawsuits are marked as such in the quotes.

Power (34)
  • IT capacity: 753 MW
    “The Milam County leases cover approximately 753 MW of critical IT capacity across two buildings and have 15-year initial terms”
    SEC filing · Sept. 2026 · grade A
  • IT capacity: 308 MW
    “Building 1 is designed for approximately 308 MW of critical IT capacity and Building 2 is designed for approximately 445 MW of critical IT capacity”
    SEC filing · Sept. 2026 · grade A
  • IT capacity: 445 MW
    “Building 1 is designed for approximately 308 MW of critical IT capacity and Building 2 is designed for approximately 445 MW of critical IT capacity”
    SEC filing · Sept. 2026 · grade A
  • Co located generation: SB Energy states it had developed more than 1.3 GW of incremental power generation capacity in Milam County, with co-located power assets expected to serve a substantial portion of the data center
    “we had developed more than 1.3 GW of incremental power generation capacity in Milam County”
    SEC filing · Sept. 2026 · grade A
  • IT capacity: 753 MW
    “the 753 MW- IT Milam County campus”
    SEC filing · Sept. 2026 · grade A
  • IT capacity: 308 MW
    “Milam County Building 1 ..................... Milam County, TX (ERCOT) 308 OpenAI affiliate Vertical construction; NTP issued April 2026 2027 2028”
    SEC filing · Sept. 2026 · grade A
  • IT capacity: 445 MW
    “Milam County Building 2 ..................... Milam County, TX (ERCOT) 445 OpenAI affiliate Vertical construction; NTP issued April 2026 2028 2028”
    SEC filing · Sept. 2026 · grade A
  • Utility service: 660 MW
    “for a total initial campus load of approximately 660 MW”
    SEC filing · Sept. 2026 · grade A
  • On-site generation: 1,300 MW
    “we had developed more than 1.3 GW of incremental power generation capacity in Milam County”
    SEC filing · Sept. 2026 · grade A
  • Power step: committed
    “Utility and ISO secured”
    SEC filing · Sept. 2026 · grade A
  • High-voltage interconnection delivered in phases from co-located Orion projects: 1-A 200 MW from Orion 1 via 34.5kV targeted Aug 2026; 1-B 230 MW from Orion 2 via 345kV targeted Dec 2026; 1-C 230 MW from Orion 3 via 345k
    “Phase 1-A (200 MW from Orion 1 via 34.5kV, targeted August 2026)”
    SEC filing · Sept. 2026 · grade A
  • No building live at cutoff: the S-1/A prospectus (Sept. 21, 2026) states no data center capacity is currently in operation; first ready-for-service is 2027. Phase 1-A power delivery was targeted for August 2026 but no source
    “No data center capacity is currently in operation.”
    SEC filing · Sept. 2026 · grade A
  • NEGATIVE with context: the S-1/A names Oncor only as a relationship utility generally (with AEP); it does NOT name Oncor, or any provider, as the Milam interconnecting transmission provider, and no public source found
    “established relationships with prominent utilities such as Oncor and AEP, which facilitate faster approvals”
    SEC filing · Sept. 2026 · grade A
  • ERCOT paused approvals to energize data-center and crypto loads of 75 MW or greater until the Batch Zero eligibility verification and audit and community impact review are complete; ERCOT to file the eligibility verifica
    “Paused approvals to energize data centers or virtual currency mining facilities (crypto facilities) that are 75 MW or greater.”
    State agency · Sept. 2026 · grade A
  • NEGATIVE: ERCOT's public Batch Zero reporting is aggregate only, 204 projects / 66.4 GW conditionally base load and 158 projects / 127.9 GW conditionally studied load. Conditional classifications were released only to i
    “Interconnecting Transmission Service Providers (TSPs) received the conditional classification for each of their Large Loads on September 3, 2026”
    State agency · Sept. 2026 · grade A
  • Subcontractors: M.C. Dean (multi-prime: lighting, power, lightning protection, security systems, modular power solutions)
    “M.C. Dean: Design/Build systems integrator for lighting, power, lightning protection, and security systems as well as modular power solutions”
    Company · Oct. 2026 · grade B
  • Stated campus size: 1,200 MW
    “build and operate its previously-announced 1.2 GW data center site in Milam County”
    Company · Jan. 2026 · grade B
  • Power plan: hybrid, grid supply (Oncor) plus SB Energy-built generation and storage supplying the majority
    “plan to build new generation to support the Milam County Data Center's energy needs and protect Texas ratepayers”
    Company · Jan. 2026 · grade B
  • On-site power technology: New generation + storage to be built by SB Energy; site-specific technology mix not disclosed
    “plan to build new generation to support the Milam County Data Center's energy needs”
    Company · Jan. 2026 · grade B
  • Milam County named one of five new Stargate sites; to be developed by SoftBank/OpenAI with SB Energy providing powered infrastructure. The 1.5 GW / 18-month figure in the announcement covers Lordstown + Milam combined
    “The second site is located in Milam County, Texas, and will be developed in partnership with SB Energy”
    Company · Sept. 2025 · grade B
  • The campus sits beside SB Energy's Orion Solar Belt (Orion I/II/III, 875 MWdc), in commercial operation since Oct 18, 2024. Orion's output is contracted to Google under a Nov 2022 PPA for Ellis County data centers, it i
    “its Orion I, Orion II and Orion III solar projects (the 'Orion Solar Belt'), located in Milam County, Texas, have reached commercial operation”
    Company · Oct. 2024 · grade B
  • Nearest substation: 0.61 km - unnamed 345 kV substation at 30.99795,-96.99834 (no name or operator tagged; new-build on the CR 134 corridor)
    Measured on OpenStreetMap map data.
    OpenStreetMap · Oct. 2026
  • Nearest power line of 345 kV or more: 0.78 km - 345 kV line
    Measured on OpenStreetMap map data.
    OpenStreetMap · Oct. 2026
  • Nearest power line of 138 kV: 20.69 km - 138 kV line (nearest line in the 100-345 kV band; a 69 kV line, is 2.57 km away)
    Measured on OpenStreetMap map data.
    OpenStreetMap · Oct. 2026
  • Nearest gas pipeline: 12.00 km - gas pipeline (Energy Transfer Company)
    Measured on OpenStreetMap map data.
    OpenStreetMap · Oct. 2026
  • Utility: Oncor (transmission and distribution)
    “Utility Provider: Oncor”
    News report · Oct. 2026 · grade C
  • Interconnection status: No campus-level ERCOT or Oncor interconnection agreement, queue position or ESA published in sources checked
    “SB Energy plans to build and fund new generation and storage to supply most of the power for a Stargate campus under development in Milam County”
    News report · Oct. 2026 · grade C
  • Caveats: all MW
    “A filing with the Texas Department of Licensing and Regulation reveals the size of the Freebird Stargate data center's first phase”
    News report · Oct. 2026 · grade C
  • Paper or real: Real: executed county tax agreement (2025), signed tenant leases (Jan 2026), named GC with live hiring in Burlington, TDLR building filing, dated construction photos (May 2026). Paper elements: the 400 MW
    “DPR Construction and Sundt Construction are the contractors on the Milam County Data Center under construction in Burlington, TX”
    Company · Oct. 2026 · grade C
  • Grid operator: ERCOT
    “pause the issuance of all permits related to data center projects until ERCOT completes its review”
    News report · Sept. 2026 · grade C
  • OpenAI's Stargate community plan (pay its own way): SB Energy to build and fund new generation and storage to supply most of the Milam campus's power; closed-loop / low-water cooling pledged at program level
    “SB Energy plans to build and fund new generation and storage to supply most of the power for a Stargate campus under development in Milam County”
    News report · Jan. 2026 · grade C
  • Stated campus size: 1,200 MW
    “SoftBank subsidiary SB Energy has partnered with OpenAI to build and operate the previously announced 1.2 GW Stargate data center in Milam County, Texas.”
    News report · Jan. 2026 · grade C
  • Interconnection status: Self-supply model - SB Energy provides the campus's powered infrastructure (integrated energy delivery); no ERCOT large-load position and no serving utility is named in sponsor disclosures; 1,200
    “SB Energy will provide the project's powered infrastructure, while SoftBank and OpenAI will invest $1 billion in the company to support its growth”
    News report · Jan. 2026 · grade C
  • Stated campus size: 1,200 MW
    “build and operate a 1.2 GW data center site in Milam County, Texas, which will be powered by new solar generation and battery storage”
    News report · Jan. 2026 · grade C
Money and contracts (43)
  • tenant lease: capacity 753 MW critical IT
    “Milam County DC, LLC, one of our subsidiaries, as landlord, and Orion DC I, LLC, an affiliate of OpenAI, as tenant, entered into two separate triple-net data center lease agreements”
    SEC filing · Sept. 2026 · grade A
  • phase delivery: delivery 308 MW critical IT (Building 1; first phase RFS 2027, final RFS 2028)
    “Milam County Building 1 ..................... Milam County, TX (ERCOT) 308 OpenAI affiliate Vertical construction; NTP issued April 2026 2027 2028”
    SEC filing · Sept. 2026 · grade A
  • power supply: on-site power supply agreements (co-located generation)
    “we expect to deliver electricity to the tenant from co-located power generation assets pursuant to on-site power supply agreements”
    SEC filing · Sept. 2026 · grade A
  • interconnection: phased high-voltage interconnection delivery 660 MW
    “for a total initial campus load of approximately 660 MW”
    SEC filing · Sept. 2026 · grade A
  • interconnection: load interconnection status
    “Utility and ISO secured”
    SEC filing · Sept. 2026 · grade A
  • Owner companies: Milam County DC, LLC (site owner / landlord entity)
    “Discuss and take action on approval of a First Addendum to the Tax Abatement Agreement with Milam County DC, LLC”
    Local government · Dec. 2025 · grade A
  • Incentives: Chapter 312 tax abatement agreement with Milam County via Milam County DC, LLC, executed before Dec 8, 2025; First Addendum taken up by Commissioners Court Dec 8, 2025; abatement percentage and term not publ
    “Discuss and take action on approval of a First Addendum to the Tax Abatement Agreement with Milam County DC, LLC”
    Local government · Dec. 2025 · grade A
  • Tax abatement agreement (Chapter 312): existence, FINDING: agreement executed before Dec 8, 2025; abatement percentage, term, minimum-investment and jobs clauses are NOT published in any source opened
    “Discuss and take action on approval of a First Addendum to the Tax Abatement Agreement with Milam County DC, LLC”
    Local government · Dec. 2025 · grade A
  • First Addendum to tax abatement agreement: amendment, FINDING: addendum was before the court for approval on Dec 8, 2025; its substance is not public in sources opened
    “Discuss and take action on approval of a First Addendum to the Tax Abatement Agreement with Milam County DC, LLC”
    Local government · Dec. 2025 · grade A
  • Milam County Commissioners Court held a closed executive session (Gov't Code 551.087) on economic-development negotiations and an incentive offer for the SB Energy data center
    “to deliberate the offer of a financial or other incentive to the business prospect: SB Energy data center”
    Local government · Oct. 2025 · grade A
  • General contractor: DPR Construction and Sundt Construction (joint venture)
    “As part of a joint venture, DPR Construction and Sundt Construction are the contractors on the Milam County Data Center under construction in Burlington, TX”
    Company · Oct. 2026 · grade B
  • Financing: Form S-1 filed Sep 1, 2026 by SB Energy, Inc. (Nasdaq / Nasdaq Texas: SBE); reported target raise $5-7bn at ~$50bn valuation; no campus-level project financing disclosed USD
    “has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to the proposed initial public offering of its common stock”
    Company · Sept. 2026 · grade B
  • Tenants: OpenAI, via Orion DC I, LLC (OpenAI affiliate), guaranteed by OpenAI Global, LLC
    “OpenAI signs 1.2 GW data center lease for initial data center buildout”
    Company · Jan. 2026 · grade B
  • Tenant status: signed lease (January 2026); initial leases cover 800 MW of the 1,200 MW campus
    “OpenAI signs 1.2 GW data center lease for initial data center buildout”
    Company · Jan. 2026 · grade B
  • Financing: $500 million equity investment by OpenAI in SB Energy, Inc., company-level growth capital, not project financing USD
    “OpenAI and SoftBank Group are each investing $500 million into SB Energy”
    Company · Jan. 2026 · grade B
  • Financing: $500 million equity investment by SoftBank Group in SB Energy, Inc., company-level growth capital, not project financing USD
    “OpenAI and SoftBank Group are each investing $500 million into SB Energy”
    Company · Jan. 2026 · grade B
  • Financing: $800 million redeemable preferred equity from Ares Infrastructure Opportunities funds into SB Energy, company-level, secured in 2025 USD
    “SB Energy additionally secured $800 million of Redeemable Preferred Equity from Ares to further support the company's growth”
    Company · Jan. 2026 · grade B
  • Equity investment: scope 500000000 USD
    “OpenAI and SoftBank Group are each investing $500 million into SB Energy”
    Company · Jan. 2026 · grade B
  • Equity investment: scope 500000000 USD
    “OpenAI and SoftBank Group are each investing $500 million into SB Energy”
    Company · Jan. 2026 · grade B
  • Preferred equity: type, redeemable preferred equity 800000000 USD
    “SB Energy additionally secured $800 million of Redeemable Preferred Equity from Ares”
    Company · Jan. 2026 · grade B
  • Preferred partnership / development agreement: scope, SB Energy selected to build and operate the 1.2 GW Milam County site; OpenAI first-party design plus SB Energy integrated energy delivery; non-exclusive
    “OpenAI, SoftBank Group, and SB Energy have also formed a non-exclusive preferred partnership to develop a new model for data center builds”
    Company · Jan. 2026 · grade B
  • OpenAI and SoftBank Group each invest $500m in SB Energy; SB Energy selected to build and operate the 1.2 GW Milam County campus; $800m Ares redeemable preferred equity previously secured
    “OpenAI and SoftBank Group are each investing $500 million into SB Energy”
    Company · Jan. 2026 · grade B
  • Current target date: 2026, phase 1 construction completion filed for Oct 15, 2026; entry into service not confirmed in sources checked as of Oct 18, 2026
    “The filing discloses the estimated cost of the project at $470 million, with a project completion date of 15 October”
    News report · Oct. 2026 · grade C
  • Data center lease: termination, FINDING: no termination, cancellation or early-exit clause for the Milam leases is public in any source opened; the leases are not public documents. SB Energy's S-1 risk factors (via DCD)
    “if it 'lost either tenant due to insolvency, exercise of contractual rights, force majeure, breach, early termination, a reduction in lease scope, or a failure to renew'”
    News report · Oct. 2026 · grade C
  • SoftBank reportedly purchased ~4,000 acres of former Alcoa land in Milam County in June 2026. NOT the Freebird site, DCD notes SB Energy is building its data center elsewhere in the county. Possible future expansion lan
    “It is not known if SoftBank intends to build a data center on the site, though its energy subsidiary SB Energy is building a data center elsewhere in Milam County”
    News report · Sept. 2026 · grade C
  • Sponsor credit: SB Energy, Inc.: pre-IPO; H1 2026 net loss ~$3.2bn and revenue ~$139m (legacy renewables, zero data-center revenue), per the S-1 as reported; prospectus says the company is substantially dependent on Open
    “it is 'substantially dependent' on the performance of OpenAI as both a tenant and equity investor, which is a material vulnerability”
    News report · Sept. 2026 · grade C
  • Services commitment: scope, SB Energy committed to purchase OpenAI software and services, including ChatGPT Enterprise 50000000 USD
    “SB Energy committed to buy at least $50 million of OpenAI software and services by 2028, including ChatGPT Enterprise”
    News report · Sept. 2026 · grade C
  • SB Energy, Inc. publicly filed Form S-1 (Nasdaq: SBE). Prospectus as reported: ~$439bn contracted backlog, 8.8 GW data-center capacity under construction/contracted/exclusivity (~0.8 GW under construction), no data cente
    “SB Energy has also been signed on to build and operate the previously announced 1.2GW Stargate data center in Milam County, Texas”
    News report · Sept. 2026 · grade C
  • Development stage: Under construction - phase 1 (single-story 548,950 sq ft, four data halls, $470M per TDLR filing) topped out in Mar 2026; vertical construction on both buildings Apr 2026; phase-1 completion Oct 15, 20
    “That month, Stargate leader Peter Hoeschele announced that phase one of Freebird had officially topped out.”
    News report · April 2026 · grade C
  • Phase 1 building: Single-story 548,950 sq ft data center with four data halls; estimated cost $470 million; completion date 15 October (TDLR filing).
    “OpenAI's planned data center in Milam County, Texas, will comprise a single-story 548,950 square foot (51,000 sqm) data center with four data halls.”
    News report · April 2026 · grade C
  • Square feet: 548950 sq ft
    “will comprise a single-story 548,950 square foot (51,000 sqm) data center with four data halls”
    News report · April 2026 · grade C
  • Stated capital cost: 470000000 USD
    “The filing discloses the estimated cost of the project at $470 million, with a project completion date of 15 October”
    News report · April 2026 · grade C
  • Phase one of 'Freebird' had officially topped out (announced March 2026 by OpenAI's Stargate leader, reported by DCD April 22, 2026). Site is in Burlington, Milam County; contractor DPR/Sundt JV lists the Milam County Data C
    “Stargate leader Peter Hoeschele announced that phase one of Freebird had officially topped out.”
    News report · April 2026 · grade C
  • Power supply arrangement: scope, SB Energy to build and fund new generation and storage supplying the majority of the campus's power. FINDING: no executed ESA or PPA for this campus is public
    “SB Energy plans to build and fund new generation and storage to supply most of the power for a Stargate campus under development in Milam County”
    News report · Jan. 2026 · grade C
  • Data center lease: term 15 years
    “An OpenAI affiliate leases both buildings under 15-year triple-net leases signed in January 2026”
    News report · Jan. 2026 · grade C
  • Data center lease: scope, initial leased capacity 800 MW
    “One tranche has already vested when the two companies signed a lease for 800 megawatts at SB Energy's Milam County facility”
    News report · Jan. 2026 · grade C
  • Data center lease: type triple-net
    “Lease: 15-year triple-net terms with two 10-year extensions”
    News report · Jan. 2026 · grade C
  • Data center lease: guaranty OpenAI Global, LLC guaranty
    “Tenant: Orion DC I, LLC, an OpenAI affiliate, guaranteed by OpenAI Global, LLC”
    News report · Jan. 2026 · grade C
  • Warrant agreement: vesting 3.99 million warrants; tranche 1 vested on execution of the 800 MW Milam lease; tranche 2 vests on IPO pricing; five further tranches vest on market-cap milestones of $80bn-$200bn
    “As of the prospectus date, OpenAI owns 3.99 million warrants, valued at $5.5 billion on June 30, and they expire in 2036”
    News report · Jan. 2026 · grade C
  • Warrant agreement: exercise terms $0.01 per share strike; expire 2036; cashless exercise agreed for vested warrants
    “OpenAI can buy up to 3.99 million shares at $0.01 per share if and when each of the eight warrant tranches vests”
    News report · Jan. 2026 · grade C
  • An OpenAI affiliate (Orion DC I, LLC) signed 15-year triple-net leases for both campus buildings; warrant tranche 1 vested on the lease signing (800 MW)
    “An OpenAI affiliate leases both buildings under 15-year triple-net leases signed in January 2026”
    News report · Jan. 2026 · grade C
  • Incentives: Milam County designated a reinvestment zone for the project and stated it would not consider an abatement until SB Energy signed a tenant (as of June 2025)
    “Milam County approved a reinvestment zone; county said it would not consider an abatement until SB Energy signed a tenant (as of June 2025)”
    News report · June 2025 · grade C
  • Reinvestment zone designation: scope, county designated a reinvestment zone for the project; county stated it would not consider an abatement until SB Energy signed a tenant
    “Stargate Milam County, Burlington, Milam County, TX — Milam County approved a reinvestment zone”
    News report · June 2025 · grade C
Permits and government (17)
  • Permitted site location: 30.9898,-97.0358 (air permit); 30.9984,-97.0034 / 30.9988,-97.0077 (stormwater) - Burlington, Milam County
    “PSP permit points: air 183969 at 30.989794,-97.035774; stormwater TXR1540UC at 30.998400,-97.003411; TXR1598ZP at 30.998777,-97.007671”
    State agency · Oct. 2026 · grade A
  • Permitted project name: Orion Data Center
    “SB ENERGY - ORION DATA CENTER”
    State agency · Oct. 2026 · grade A
  • MILAM DATA CENTER BUILDING 1 (RN112540901), issued to Mdc Building 1, LLC. FM 13: Construction stormwater general permit (TXR15) coverage issued
    “MILAM DATA CENTER BUILDING 1 | FM 134, BURLINGTON | Water General Permit TXR1598ZP | ISSUED PERMIT | Custodial Party: Mdc Building 1, Llc”
    State agency · Oct. 2026 · grade A
  • S-1/A permitting section: Milam County campus has obtained the necessary county : County development permit and Army Corps of Engineers approval obtained
    “The Milam County campus has obtained the necessary county development permit and Army Corps of Engineers approval.”
    SEC filing · Sept. 2026 · grade A
  • MILAM COUNTY DC (RN112444104), issued to Se Dc Devco, LLC. 4020 County Road 134,: Air NSR registration issued
    “MILAM COUNTY DC | 4020 COUNTY ROAD 134, BURLINGTON, MILAM County | Air New Source Permit 183969 | ISSUED PERMIT | Custodial Party: Se Dc Devco, Llc”
    State agency · May 2026 · grade A
  • Milam County Commissioners Court: Item 8: Discuss and take action on approval of a First Addendum to the Tax Abatement Agreement with Milam County DC, LLC
    “Discuss and take action on approval of a First Addendum to the Tax Abatement Agreement with Milam County DC, LLC”
    Local government · Dec. 2025 · grade A
  • Milam County Commissioners Court: Executive session under Tex. Gov't Code Sec. 551.087: deliberate commercial/financial information from a business prospect and the offer of a financial or other incentive, SB Energy dat
    “to deliberate the offer of a financial or other incentive to the business prospect: SB Energy data center”
    Local government · Oct. 2025 · grade A
  • SB ENERGY: Construction stormwater general permit (TXR15) coverage issued
    “SB ENERGY - ORION DATA CENTER | 1899 COUNTY ROAD 133, BURLINGTON | Water General Permit TXR1540UC | ISSUED PERMIT | McCarthy Building Companies, Inc.”
    State agency · March 2025 · grade A
  • FAA obstruction evaluation (7460-1): Determined - No Hazard
    “ASN 2026-ASW-14552-OE: Data Hall C, Mobile Crane, 350 ft AGL, 826 ft AMSL, 30.99572,-97.01211, Determined - No Hazard, submitted 2026-09-04”
    FAA · Sept. 2026 · grade B
  • FAA obstruction evaluation (7460-1): Determined - No Hazard
    “ASN 2026-ASW-11186-OE: Orion Phase 1A, Mobile Crane, 300 ft AGL, 778 ft AMSL, 30.99531,-97.00878, Determined - No Hazard, submitted 2026-07-17”
    FAA · July 2026 · grade B
  • FAA obstruction evaluation (7460-1): Determined - No Hazard
    “ASN 2026-ASW-1160-OE: Project Orion, Mobile Crane, 300 ft AGL, 763 ft AMSL, 30.99709,-97.00809, Determined - No Hazard, submitted 2026-01-23”
    FAA · Jan. 2026 · grade B
  • FAA OE/AAA mobile-crane filings under the campus's own project name evidence vertical construction at the SB Energy Stargate Milam County campus (Orion Data Center): 'Project Orion' 300-ft crane (Jan. 23, 2026), 'Orion Phas
    “ASN 2026-ASW-1160-OE: Project Orion, Mobile Crane, 300 ft AGL, 763 ft AMSL, 30.99709,-97.00809, Determined - No Hazard, submitted 2026-01-23”
    FAA · Jan. 2026 · grade B
  • Statewide data-center permit issuance pause: In effect, TCEQ directed to pause issuance of all permits related to data center projects until ERCOT completes its review; ERCOT report to the PUC due Dec 10, 2026. Affects
    “The TCEQ Order directs TCEQ to 'pause the issuance of all permits related to data center projects until ERCOT completes its review'”
    News report · Sept. 2026 · grade C
  • Governor Abbott directed TCEQ to pause issuance of all data-center-related permits until ERCOT completes its large-load review (ERCOT report to the PUC due Dec 10, 2026); state also auditing interconnection requests. Pro
    “The TCEQ Order directs TCEQ to 'pause the issuance of all permits related to data center projects until ERCOT completes its review'”
    News report · Sept. 2026 · grade C
  • DCD reports a TDLR filing for 'Freebird' phase 1: 548,950 sq ft single-story, fo: Project registration reported, 'Freebird' phase 1
    “The filing discloses the estimated cost of the project at $470 million, with a project completion date of 15 October.”
    News report · April 2026 · grade C
  • Building project registration (TABS): Registered, phase 1: single-story 548,950 sq ft building, four data halls; filed completion date Oct 15, 2026; filed estimated cost $470m
    “A filing with the Texas Department of Licensing and Regulation reveals the size of the Freebird Stargate data center's first phase”
    News report · April 2026 · grade C
  • Reinvestment zone designation (Tax Code Ch. 312, Subchapter C): Designated
    “Milam County approved a reinvestment zone; county said it would not consider an abatement until SB Energy signed a tenant (as of June 2025)”
    News report · June 2025 · grade C
Legal (1)
  • Opposition: None found, no site-specific opposition group, lawsuit or moratorium affecting this campus in sources checked
    “Construction for OpenAI's Stargate Milam County data center in Burlington, Texas on May 4, 2026”
    News report · Oct. 2026 · grade C
Site and other (28)
  • Development stage: Under construction per SB Energy's S-1/A (Sept. 21, 2026): Milam County Buildings 1 and 2 are listed as Construction with RFS 2028; no SB Energy data center capacity is yet in operation
    “Our first data center projects, the Cosmos Technology Campus and Milam County Data Center, are under construction”
    SEC filing · Sept. 2026 · grade A
  • Filing name and scope: SB Energy's prospectus names this project the 'Milam County Data Center'; the word 'Stargate' appears nowhere in the S-1/A. The 17 OpenAI leases executed Aug. 17, 2026 in the same filing cover the POR
    “SoftBank and OpenAI are strategic investors and customers at our data center campuses - Cosmos (SoftBank), Milam County (OpenAI) and PORTS-Pike Technology Campus (OpenAI)”
    SEC filing · Sept. 2026 · grade A
  • SB Energy registered for an IPO in September 2026 (S-1 Sept. 1, 2026, S-1/A Sept. 21, 2026), taking the Milam County leases, construction status and portfolio figures into a public prospectus
    “with 8.8 GW-IT in our portfolio, including 0.8 GW-IT of under-construction capacity, inclusive of our Cosmos Technology Campus and Milam County Buildings 1 and 2”
    SEC filing · Sept. 2026 · grade A
  • Building 1: first-phase ready-for-service 2027, final completion RFS 2028. Building 2: first-phase and final RFS 2028. Both buildings vertical construction with NTP issued April 2026 (S-1/A project-status table).
    “Milam County Building 1 ..................... Milam County, TX (ERCOT) 308 OpenAI affiliate Vertical construction; NTP issued April 2026 2027 2028”
    SEC filing · Sept. 2026 · grade A
  • County code: 48331
    “FCC census block API: campus anchor (County Road 134, Burlington) -> Milam County TX 48331; on-site facilities (same tract) -> Milam County”
    Dataset · Oct. 2026 · grade B
  • GC DPR Construction is actively hiring and signing trade partners in Burlington, TX for the Milam County Data Center, construction ongoing at capture date
    “Our current posted jobs in Burlington, TX are shown below”
    Company · Oct. 2026 · grade B
  • Name: Stargate Milam County (SB Energy)
    “OpenAI has also selected SBE to build and operate its previously-announced 1.2 GW data center site in Milam County”
    Company · Jan. 2026 · grade B
  • Developer: SB Energy (SB Energy, Inc.), a SoftBank Group company
    “SB Energy, a SoftBank Group company, announced today a strategic partnership with OpenAI as part of Stargate”
    Company · Jan. 2026 · grade B
  • Operator: SB Energy
    “OpenAI has also selected SBE to build and operate its previously-announced 1.2 GW data center site in Milam County”
    Company · Jan. 2026 · grade B
  • Original target date: 2026
    “initial facilities under construction and expected to enter service starting in 2026”
    Company · Jan. 2026 · grade B
  • Water use stated: Designed to minimize water usage (company statement); no volume or site cooling design disclosed
    “OpenAI and SB Energy have designed the data center to minimize water usage”
    Company · Jan. 2026 · grade B
  • Aliases: Stargate Milam; OpenAI Milam County campus
    “The second site is located in Milam County, Texas, and will be developed in partnership with SB Energy”
    Company · Sept. 2025 · grade B
  • Announced: Sept. 23, 2025
    “The second site is located in Milam County, Texas, and will be developed in partnership with SB Energy, a SoftBank Group company”
    Company · Sept. 2025 · grade B
  • Construction stage: Under construction, phase 1 topped out Mar 2026; both buildings in vertical construction Apr 2026; construction photographed May 4, 2026; phase-1 completion filed for Oct 15, 2026
    “Stargate leader Peter Hoeschele announced that phase one of Freebird had officially topped out”
    News report · Oct. 2026 · grade C
  • Time to service (months): 0-6 months
    “with a project completion date of 15 October”
    News report · Oct. 2026 · grade C
  • Amended S-1 submitted the week of Sep 21, 2026; reporting (NYT via CryptoBriefing) says the offering was pushed back amid valuation skepticism and is not expected before mid-to-late October 2026
    “filed its S-1 registration statement with the SEC on September 1, 2026, targeting a Nasdaq listing under the ticker SBE”
    News report · Sept. 2026 · grade C
  • Address: 4299-2301 County Rd 134, Burlington, TX (unincorporated Milam County)
    “The site for OpenAI's Stargate Milam County data center, located at 4299-2301 County Rd 134 in Burlington”
    News report · May 2026 · grade C
  • Texas Tribune photographed active construction at the County Rd 134, Burlington site; completion expected later in 2026
    “The site for OpenAI's Stargate Milam County data center, located at 4299-2301 County Rd 134 in Burlington on May 4, 2026, is set to be completed later this year”
    News report · May 2026 · grade C
  • Site address: 4299-2301 County Rd 134, Burlington, TX 76519 (address range as published)
    “The site for OpenAI's Stargate Milam County data center, located at 4299-2301 County Rd 134 in Burlington on May 4, 2026, is set to be completed later this year.”
    News report · May 2026 · grade C
  • Project code name: Freebird
    “A filing with the Texas Department of Licensing and Regulation reveals the size of the 'Freebird' Stargate data center's first phase.”
    News report · April 2026 · grade C
  • Code names: Freebird
    “A filing with the Texas Department of Licensing and Regulation reveals the size of the Freebird Stargate data center's first phase”
    News report · April 2026 · grade C
  • Design firm: Corgan Architects (design firm on the TDLR filing); Studio 151 (SB Energy's in-house data-center design/EPC arm; Freebird project head Zoheir Taheri)
    “Corgan Architects is listed as the project's design firm”
    News report · April 2026 · grade C
  • Phase one of Freebird officially topped out, per OpenAI's Stargate leader Peter Hoeschele (who left OpenAI the following month, with several other Stargate leads)
    “Stargate leader Peter Hoeschele announced that phase one of Freebird had officially topped out”
    News report · April 2026 · grade C
  • Vertical construction proceeding on both buildings (Baxtel site history)
    “April 2026: Vertical construction proceeds on both buildings”
    News report · April 2026 · grade C
  • Buildings: 2 buildings
    “Buildings: SB Energy: Milam County 1 and SB Energy: Milam County 2”
    News report · Jan. 2026 · grade C
  • Groundbreaking date: Oct. 2025
    “OpenAI and SoftBank broke ground in October 2025”
    News report · Oct. 2025 · grade C
  • Groundbreaking at the Milam site reported for October 2025
    “OpenAI and SoftBank broke ground in October 2025”
    News report · Oct. 2025 · grade C
  • Land control date: Before Sep 2025, SB Energy owns the land, adjacent to its Orion Solar Belt
    “SB Energy, a SoftBank Group company, owns the land and both buildings and runs the facility”
    News report · Sept. 2025 · grade C

Imagery and records: Satellite imagery: Maxar via Esri World Imagery Wayback; Sentinel-2 (ESA Copernicus).