Key developments
SoftBank commits up to €75B in France
SoftBank said on May 31 it will invest up to €75 billion over five years to build 5 GW of AI data-center capacity in France. The first phase is €45 billion for 3.1 GW in Hauts-de-France by 2031, with early sites in Dunkirk, Bosquel and Bouchain; Schneider Electric and EDF are named partners, and EDF is handing over a former power plant for conversion. The announcement is set to be formalized at the Choose France summit and marks one of the largest AI infrastructure commitments in Europe.
Why it matters
It shows where global capital thinks large-scale AI capacity can be built fastest: near abundant power and supportive industrial policy.
Sources & driving stories
CNBC
CNBC coverageFORTUNE
Fortune coverageOhio freezes new data-center tax breaks
Ohio Gov. Mike DeWine paused new applications for the state's broad data-center tax exemption after the incentive surged from $554 million in 2024 to nearly $1.6 billion in 2025. The move comes as lawmakers study the industry and amid broader pushback over utility costs, with critics arguing the exemption shifts infrastructure burdens onto ratepayers. Business groups warned the pause could deter investment, but it marks a clear tightening of one of the country's biggest data-center incentive programs.
Why it matters
Ohio is signaling that data-center growth will face tighter scrutiny on who pays for the grid and tax benefits.
Sources & driving stories
THE LAND
The Land coverageIllinois data-center guardrails miss deadline
Illinois lawmakers did not finish the POWER Act by the May 31 General Assembly deadline, pushing data-center regulation into summer negotiations and possibly the fall veto session. The bill would require operators to pay for their own energy from renewables, report water use, submit water-management plans and sign community benefits agreements. Advocates are also pressing to pause data-center tax credits until the guardrails are written.
Why it matters
The delay leaves a major policy package unresolved in a large Midwest market with active data-center development.
Sources & driving stories
STLPR
STLPR coverageWorth noting
WORTH NOTING
ERCOT formalizes BYOG, CLR, WLPUN pathways
Texas is rewriting interconnection rules around AI loads, with testimony citing about 410 GW of large-load requests and batch studies every six months.
WORTH NOTING
Michigan utilities confront secrecy backlash
DTE and Consumers said transparency missteps are fueling opposition as Oracle, OpenAI and Google-linked projects draw scrutiny over secrecy and NDAs.
WORTH NOTING
Lakeland reviews first hyperscale proposal
Project Swan would cover up to 600,000 square feet on 60.5 acres, but city code may not yet allow data centers and key operating details are still missing.
Still unclear
OPEN QUESTION
Will Ohio's pause become permanent?
DeWine's move only freezes new applications, so lawmakers still have to decide whether to codify, extend or reverse the exemption.
OPEN QUESTION
Can SoftBank deliver 5 GW by 2031?
The France plan depends on site control, grid access and financing across multiple locations at a scale few AI buildouts have reached.