True Anomaly Closes $650M Series D

Meta announced an agreement today to secure up to 1 GW of power capacity through Overview Energy’s planned solar power-beaming satellite system.The deal comes amid AI’s rapid expansion, which has put a strain on terrestrial power grids. As large tech companies pour billions into new data centers, their energy needs are already equivalent to the entire power demand of Ireland in 2023, according to one estimate—and are expected to double or triple by 2028.The explosive demand has forced many data-center operators to get creative about their power inputs. In January, Meta announced three deals to secure up to 6.6 GW of nuclear power capacity by 2035, and now the tech giant is turning its sights to space.Keep reading