Nvidia is in advanced negotiations to invest several hundred million dollars in Cloverleaf Infrastructure, a power development company specializing in securing electricity capacity for data-center projects, according to The Wall Street Journal. An agreement could be announced as soon as Friday.
The potential investment would reinforce Nvidia’s push beyond semiconductors into the infrastructure critical for artificial intelligence, including power and development capacity for data centers running its GPUs. Cloverleaf’s role centers on securing utility agreements that enable data-center developers to access sites with reliable electricity, a growing bottleneck for AI computing expansion.
Founded in 2024, Cloverleaf raised an initial $300 million from energy investors NGP and Sandbrook Capital. Since then, the company has sold projects representing over 7 gigawatts of powered land to data-center developers, including sites in Wisconsin intended for Oracle and OpenAI. Cloverleaf’s broader project pipeline exceeds 10 gigawatts.
Cloverleaf is also exploring strategic options, with JPMorgan Chase advising on alternatives that could include a full sale of the business. Nvidia’s proposed investment would grant it a substantial stake in a company positioned at the front end of the AI infrastructure supply chain, rather than an outright acquisition.
The potential deal follows Nvidia’s recent investments in power infrastructure, including an equity interest in SoftBank’s SB Energy tied to a 20-year data-center lease by OpenAI in Ohio. Earlier this year, Nvidia committed $2 billion to Lancium, the developer behind a computing campus in Abilene, Texas, where OpenAI leases capacity from Oracle.
