Eric Schmidt Enters AI Energy Race With West Texas Project
Former Google CEO Backs Power-Heavy Data Center Strategy
The former chief executive of Google is stepping directly into the race to solve one of the biggest constraints facing artificial intelligence and large-scale data centers: energy supply.
Eric Schmidt, 70, has launched a new venture called Bolt Data & Energy, entering the AI infrastructure space with a major power-focused project in rural West Texas, according to a report by Fortune. The initiative pairs Schmidt with Texas Pacific Land, a firm that traces its roots to a failed railroad and later became one of the largest landowners and royalty holders in the Permian Basin.
The partnership aims to generate enough electricity to power the equivalent of 7 million homes, positioning the project as a large-scale solution for the explosive energy demands of AI computing.
Energy Constraints Driving AI Infrastructure Decisions
Schmidt told Fortune that the motivation behind Bolt Data & Energy is straightforward: AI growth is increasingly limited by power availability.
“Energy is the main constraint in scaling AI. If we want to keep America competitive, we have to solve this problem,” Schmidt said in an emailed interview. “Bolt was created to address this challenge.”
He explained that the company’s strategy combines his technology background with Texas Pacific Land’s vast holdings, access to water resources, and proximity to low-cost energy supplies.
“We realized that combining my technical expertise with TPL’s unrivaled land, abundant water, and access to low-cost energy could create the infrastructure needed to meet the virtually infinite demand for compute,” Schmidt added.
The project reflects a growing trend among AI developers and data center operators to co-locate power generation, land, and computing infrastructure in rural regions where permitting, land availability, and energy access are more favorable.
Oklahoma Ties and Data Center Legacy
Schmidt’s move into the AI-energy space carries particular relevance for Oklahoma, where Google has operated a major data center for years.
During Schmidt’s tenure as CEO of Google from 2001 to 2011, the company announced and developed its Pryor data center at MidAmerica Industrial Park. The project was announced in 2007 and became a foundational piece of Oklahoma’s early data center economy.
As AI workloads continue to expand, Google and other technology firms have accelerated investments in data centers, grid upgrades, and behind-the-meter energy solutions across the central United States.
Schmidt’s Expanding Role in AI Infrastructure
Now one of the wealthiest individuals in the world, Schmidt ranks among the top names on the Bloomberg Billionaires Index, with an estimated net worth of $53 billion as of 2025.
His latest move underscores the increasing involvement of former Big Tech leaders in energy development, not just software and hardware. As AI models require massive, continuous electricity loads, the lines between technology companies and energy producers continue to blur.
Bolt Data & Energy’s West Texas effort places Schmidt at the center of that convergence — betting that power generation, not algorithms alone, will determine the next phase of AI dominance.
SOURCE: Fortune