AMD's 15-Year Lease Only Pays Off If West Texas Transmission Lands on Time

AMD's $14B, 15-year lease with Core Scientific doubles the site to 1.1 GW, but delivery lands in H1 2027, after the ride-through mandate, the PUCT's push for direct authority, and a $3.3B exemption fight all reshape the ground under it. Developers who lock generation and transmission position now make delivery; the rest inherit those rules mid-build.