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Meta Signs Deal for Advanced Geothermal Power in New Mexico to Support AI Expansion

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Meta has signed an agreement with XGS Energy to develop 150 megawatts of advanced geothermal electricity in New Mexico. The clean energy will power Meta’s expanding artificial intelligence data centers, marking a step forward in the tech giant’s efforts to source sustainable energy for its operations.

This deal highlights a growing trend among major technology companies to secure large-scale, low-carbon power supplies to meet soaring electricity demands driven by AI development. Advanced geothermal energy, unlike conventional geothermal, generates power without relying on natural water sources and produces no climate-warming emissions.

While 150 megawatts is a small portion of the gigawatts of power that Big Tech firms seek for AI data centers, it represents about 4% of total U.S. geothermal production capacity. New Mexico has significant untapped geothermal potential, estimated at around 160,000 megawatts.

The Meta-XGS project is planned to be phased in and operational by the end of this decade. The electricity generated will feed into the local grid and support Meta’s regional operations.

Urvi Parekh, Meta’s Global Head of Energy, said, “With next-generation geothermal technologies like XGS ready for scale, geothermal can be a major player in supporting the advancement of technologies like AI as well as domestic data center development. We’re excited to partner with XGS to unlock a new category of energy supply for our operations in New Mexico.”

Telus Moves to Fully Acquire Digital Unit to Boost AI Control

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Canadian telecom giant Telus announced Thursday its intention to acquire all outstanding shares of its digital services subsidiary, Telus Digital, aiming for greater control over its artificial intelligence capabilities. The offer values Telus Digital at approximately $946.8 million, with Telus proposing to buy the remaining shares at $3.40 each—a 15% premium over the subsidiary’s last closing price.

Currently, Telus owns about 57% of the digital unit directly and through other entities. The subsidiary’s U.S.-listed shares have declined over 24% this year, underperforming compared to Telus’s parent company stock, which has gained nearly 19%.

This acquisition bid highlights Telus’ strategic move to strengthen operational integration of Telus Digital, which supports businesses in adopting AI and developing data strategies amid a global push toward AI technology adoption. CEO Darren Entwistle emphasized that full ownership would accelerate AI capability enhancement and SaaS transformation across Telus’s operations.

In a related investment push, Telus revealed plans last month to invest over C$70 billion (US$51.4 billion) in expanding Canada’s network infrastructure over the next five years, including the launch of two new AI-focused data centers.

Barclays is advising Telus on the transaction.