SoftBank-backed SB Energy subsidiary to develop former Texas 3M campus into R&D tech center
Type: Development · Technology: Data Center · Country: United States · Capacity: 50 MW · Value: $1B · Announced: 2026-09-09
SB Energy, a SoftBank affiliate, is developing the former Texas 3M campus into the Cosmos Technology Center, an R&D tech facility with 50 MW of critical IT load for AI development. The $1 billion project involves converting the Austin site, previously sold by 3M in 2018, with facilities including rack development halls and high-density powered lab spaces. Silver Bands 3 (US) Corp., another SoftBank affiliate, has leased space in the facility for an initial 15-year term, expected to generate $2.5 billion in rent starting between 2026 and 2027. S&P Global noted the site will rely on Austin Energy for power, which will upgrade its existing substation to support the development. The project is part of SoftBank's broader AI infrastructure strategy, following Nvidia's $1.5 billion investment in SB Energy for a separate Ohio data center campus and the company's commitment to build OpenAI's 1.2 GW Stargate data center in Milam County, Texas.
Counterparties
- SB Energy (Developer)
- Softbank (Parent Company)
- SE Cosmos (Subsidiary)
- Austin Energy (Utility)
- S&P Global Ratings (Ratings Provider)
- Silver Bands 3 (US) Corp (Lessee)
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