Hyperscale Capex Runs Into the State-Regulator Wall — June 18, 2026

Synergy Research Group pegs hyperscale capex at $142 billion in Q3, while NARUC’s FERC comments draw a hard state-jurisdiction line around large-load interconnection. The buildout is scaling faster than the permitting and cost-allocation machinery around it. In this episode: Top stories: 1. [PDF] Interconnection of Large Loads to the Interstate Transmission ... — National Association of Regulatory Utility Commissioners https://pubs.naruc.org/pub/25031BF3-C5E4-85FA-243B-A3D2E5DC82A0 2. Step Back: We usually count data center water risk as “gallons in,” but for AI-scale campuses with hybrid or liquid cooling, what actually comes out the other side — heat, chemicals, blowdown — and how well do today’s permits make that visible? 3. Hyperscale Spending Spree is Driving Dramatic Growth in Data Center Capacity | Synergy Research Group — Synergy Research Group https://www.srgresearch.com/articles/hyperscale-spending-spree-is-driving-dramatic-growth-in-data-center-capacity Follow and rate The Data Center Daily on Apple Podcasts or Spotify. Feedback? Email [email protected]