Keel Infrastructure Corp. (KEEL · NASDAQ)
Where the Power Already Is
Keel owns big American sites that already have electricity connected to the grid, and it is turning them into data centres to rent to companies running artificial intelligence.
Bull case for Keel Infrastructure Corp.
Owns grid-connected power AI users cannot get
Electricity connections take years to obtain, and Keel already holds several at scale.
Leases run about fifteen years each
A signed data centre lease turns a development site into more than a decade of rent.
Cash on hand covers costs into 2028
Management says its funding covers running costs and site work through 2028.
Bear case for Keel Infrastructure Corp.
No data centre lease signed yet
Every part of the plan depends on customers committing, which has not happened yet.
Building data centres swallows enormous capital
Construction costs exceed current cash, so more borrowing or share issuance is likely.
Permits and utilities control the timetable
Regulators and power companies, not management, decide when sites can open.