The AI bottleneck stopped being GPUs. Now it’s power, land, wires, fiber and capital — and Helix is the bet that whoever owns the whole stack owns the cycle.

• KKR, the Kuwait Investment Authority, Nvidia and Vistra launched Helix Digital Infrastructure with $10B+ of committed capital, led by former AWS chief Adam Selipsky — a single coordination point for hyperscalers across data centers, power, connectivity and transmission, not just a landlord.

• Vistra is preferred power partner (5,000+ MW of hyperscaler PPAs, ~50,000 MW fleet by YE26); Nvidia is strategic compute partner; KKR brings a $100B+ infra platform. The next data-center cycle is vertically integrated — capital, chips, power and pipes in one room.

• Cypress Creek closed $3.5B for Steel River Phases 1–2 — 1.63 GW of solar and 1.9 GWh of storage, scaling to 2.45 GW / 2.9 GWh by 2029. Barclays, BNP Paribas, Santander and Wells Fargo fully underwrote it.

• It runs on 100% U.S. structural steel and First Solar panels, with ~$300M of lifetime tax revenue and ~700 construction jobs. Storage-backed solar is scaling from portfolio filler to multi-billion-dollar infra finance.

• Sempra said ERCOT endorsed new transmission across southern Dallas–Fort Worth and the I-35 corridor — $7B+ of investment supporting ~16 GW of demand, in service 2026–2034, built mostly by Oncor (80.25% Sempra-owned).

• The spend sits inside Sempra’s $10B incremental Oncor opportunity, above the $47.5B base plan; the PUCT weighs ERCOT’s Batch Zero process this month. Texas demand is moving from load queue to utility earnings math.

• Hart reported, citing sources, that Sixth Street is buying LOGOS — a North Hudson company in the San Juan Basin Mancos — for ~$1B. No primary release had surfaced before publication.

• LOGOS’ 2025 EnerCom deck showed 232,000 net acres, ~200 MMcfe/d, a 350 MMcfe/d 2026 exit target and ~$300M of 2026 EBITDA; North Hudson bought it from ArcLight in 2022 for ~$400M. Sixth Street is leaning into E&P as gas optionality reprices.

• Reuters reported Gunvor backed Western Natural Resources’ ~$300M buy of Haynesville assets in Texas and Louisiana from Nadel and Gussman and Quantent — both Post Oak–backed — one of four Post Oak exits in the past month.

• Post Oak separately sold Midway Energy’s Permian assets to multiple operators (terms undisclosed). Private upstream is finding exits where PDP cash flow meets gas-demand optionality — and traders are getting closer to physical supply.

• Presidio closed a $350M ABS refinancing at a 6.38% weighted-average coupon, 184 bps below its prior ABS — $175M of 5.902% Class A-1 and $175M of 6.717% Class A-2 notes, both due 2041.

• The refi lowers rate, slows amortization and adds liquidity. Investment-grade upstream ABS is a cheaper, deeper pocket of capital than it was a year ago.

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