On October 16 NiSource (Ticker: NI) signed an agreement with Microsoft (Ticker: MSFT) for about 1100MW of new generation on a 20-year term, serving Microsoft's data center campus in northwest Indiana On October 16 NiSource (Ticker: NI) signed an agreement with Microsoft (Ticker: MSFT) for about 1100MW of new generation on a 20-year term, serving Microsoft's data center campus in northwest Indiana
US Stocks AI Daily on Oct 19, 2026: NiSource Signs a 1100MW 20-Year Power Agreement With Microsoft
On October 16 NiSource (Ticker: NI) signed an agreement with Microsoft (Ticker: MSFT) for about 1100MW of new generation on a 20-year term, serving Microsoft's data center campus in northwest Indiana from 2028, with Microsoft funding all of the generation and transmission. A separate 600MW storage tolling agreement signed the same day put about $2.20B of payments over 20.5 years on the record in an 8-K, the only value this issue that is both disclosed and filed. The weekend added two larger but far less certain items: Anthropic is raising $60B of debt for 1.5GW of in-house Google (Ticker: GOOGL) TPUs, and Microsoft cancelled a compute lease at Nscale's UK site. Seven items covered all six layers.
AI Supply Chain in Six Layers
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Layer 1 Models & Apps | 2 items
Anthropic seeks $60B of debt for 1.5GW of Google TPUs
Financing | Press report, unconfirmed | FT (via Investing.com) 2026/10/16
Blackstone (Ticker: BX) funds are expected to take $9B of the $18B junior tranche at a 10% coupon, while the $42B senior tranche is guaranteed by Broadcom (Ticker: AVGO). Anthropic did not respond and Blackstone declined to comment.
Mercedes-Benz and Nvidia extend their automated driving work into the next decade
Contract | Completed | Mercedes-Benz Group newsroom 2026/10/16
The plan brings Nvidia (Ticker: NVDA) accelerated computing into the MB.OS vehicle system Mercedes-Benz builds itself, with no model, no automation level and no value named. Mercedes-Benz is listed in Germany, so there is no US ticker.
Layer 2 Chip Design | 1 item
Nvidia RTX Spark local AI PCs went on general sale on October 16
Launch | Completed | NVIDIA newsroom 2026/10/16
The first-generation N1X puts a Grace CPU and a Blackwell GPU on one part, with the Microsoft Surface Laptop Ultra from $2,599 and the Dell (Ticker: DELL) XPS 16 Creator Edition at $3,799. Those prices were already published at pre-order on October 7.
Layer 3 Fab & Packaging | 1 item
Taiwan plans to put advanced chips and AI servers on its export control list
Remarks | Under review | Bloomberg (via Taiwan News) 2026/10/16
Economics Minister Kung Ming-hsin said unlicensed shipments could draw criminal charges under the Foreign Trade Act, as a commitment under the Taiwan-US reciprocal trade agreement, but the ministry gave no effective date and no item-level list.
Layer 4 Memory | 1 item
Samsung agrees to use TSMC 3nm for the base die in Nvidia custom HBM
Contract | Press report, unconfirmed | Seoul Economic Daily (via Reuters) 2026/10/18
Nvidia asked Samsung, SK hynix and Micron (Ticker: MU) to standardize the NVHBM base die on TSMC (Ticker: TSM) 3nm. None of the three confirmed it on the record, and no volume or schedule was given.
Layer 5 Racks & Cooling | 1 item
Microsoft cancels its compute lease at Nscale's Essex site in the UK
Contract | Press report, unconfirmed | The Telegraph (via SiliconANGLE) 2026/10/18
The site was due to hold 23,040 Nvidia (Ticker: NVDA) GPUs by Q1 2027 at an initial 50MW, and UK grid officials said it cannot be powered until the 2030s. Microsoft offered no comment and Nscale said the relationship is strong without confirming the cancellation.
Layer 6 Power | 1 item
NiSource signs a 1100MW 20-year power agreement with Microsoft
Contract | Completed | NiSource 8-K and press release 2026/10/16
GenCo lines up 1100MW of new generation for the Microsoft campus from 2028, and a separate 600MW / 2,400MWh storage tolling agreement signed the same day carries about $2.20B of payments over 20.5 years.
Today's Takeaway
Microsoft is not buying power here so much as paying to build it: it funds all of the generation and transmission behind the 1100MW, service only starts in 2028, and the term runs all the way to 2048. Counted deal value this issue is $2.20B, all of it from the 600MW storage tolling agreement signed the same day, and even that carries conditions precedent requiring the developer to sign an EPC contract and an interconnection agreement by January 31, 2027. A further $61.75B is excluded, of which Anthropic's $60B debt package has not been confirmed by any of the three parties, while the $1.75B of customer savings is a rate estimate rather than deal value.
How to use this next time: when a headline says a company signed N megawatts, ask three things first, namely who funds the generation, when service actually starts, and whether the deal carries conditions precedent. NiSource answers all three, which is why it reaches the counted column, while the largest number of the day answers none of them and sits on the excluded side. Size and certainty ran in opposite directions this issue.
Disclaimer: This article was compiled and written by the MEXC US equities spot team (MEXC RealStocks) for market information and educational reference only. It is not investment advice and contains no buy or sell opinion. All stocks and companies mentioned are publicly discussed names and do not represent a recommendation or view of MEXC. Investing involves risk, so please exercise your own judgement.
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