Host Digital locks 43MW for $1.25B

Host Digital secured a 15-year, 43 MW take-or-pay AI data-center lease worth about $1.25 billion in base-term revenue, with delivery expected in the first half of 2027, according to the release announcing the northeast Oklahoma contract. The deal can reach $3.2 billion if renewal options run for 30 years, but the base term is the useful signal: power-ready capacity is being sold before the tenant’s compute layer is even named. Operators tracking OpenAI’s $688M-per-gigawatt lease economics should file 43 MW as another sign that AI infrastructure is becoming a contracted real-estate product, not a GPU purchase.