Overview

• OpenAI and Sur Energy signed a letter of intent for Stargate Argentina, a large AI data center in Patagonia, and presented the plan to President Javier Milei.
• The project targets up to 500 MW of capacity powered primarily by renewables, with total investment estimated at US$20–25 billion as OpenAI’s first Stargate in Latin America.
• Sur Energy is slated to lead financing and development with a top-tier cloud infrastructure partner, while OpenAI would act as the offtaker for compute; a first tranche of roughly US$7–10 billion is reported.
• The companies plan to seek inclusion under the RIGI incentives, with construction expected in 2026 and an initial ~100 MW phase targeted for late 2027 as site selection in Patagonia proceeds.
• The agreement remains preliminary, with final site choice, permits, energy and grid contracts, financing commitments, and joint-venture terms still pending.