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Hopewell weighs data center at former ethanol plant site
A former ethanol plant in Hopewell could soon be the home of the city’s first-ever data center. Volterra Advisors, a Maryland-based technology consulting firm, told The Progress-Index on July 10 that a case study it conducted with the city and the property owners found that the site at the old Green Plains plant at 701 6th Ave. co[...]
Amazon aims to raise $25B from bond sale, Bloomberg News reports
July 7 (Reuters) - Amazon.com is looking to raise at least $25 billion through a U.S. dollar bond sale, Bloomberg News reported on Tuesday, in the company's latest push to fund its hefty AI investments. Tech companies have been tapping debt markets and launching equity sales to fund their costly AI infrastructure build-out. Big Te[...]
Microsoft launches firm to help companies adopt AI with $2.5B
SAN FRANCISCO, July 2 (Reuters) - Microsoft said on Thursday it is creating a new company that will help customers select AI technologies that work for their businesses and generate returns on their investment. Microsoft Frontier Company, as the new operating entity is called, will kick off with $2.5 billion in funding from the te[...]
OpenAI proposes handing Trump administration 5% stake, FT reports
July 2 (Reuters) - OpenAI has discussed giving the U.S. government a 5% stake, the Financial Times reported on Thursday, as AI firms face scrutiny in Washington over the likely misuse of advanced models and whether Americans would benefit from the industry's massive valuations. The ChatGPT creator has proposed that other U.S. AI f[...]
From the Editor: Top Projects & Real Estate Deals
Virginia Business’s inaugural Virginia Top Projects & Real Estate Deals recognition program offers a moment to pause and celebrate the extraordinary work shaping the commonwealth’s built environment — spotlighting the innovative buildings, facilities and transactions reshaping Virginia’s landscape and honoring the teams who made[...]
2026 Top Projects & Real Estate Deals
Virginia’s commercial real estate developers, contractors and dealmakers delivered an impressive array of projects and transactions across the commonwealth last year — 29 of which are being honored in Virginia Business’s inaugural Virginia Top Projects & Real Estate Deals recognition program. BEST OF THE BEST 2026: The top con[...]
Google land transactions
Location: Two sites, western Chesterfield County (near Moseley and Westchester Commons) Price: Approximately $60 million (1,200+ acres; nine transactions) Assets/Description: 1,200+ acres across two data center campus sites; rezoned for data center use Closed: June 30, 2025 Buyer: Google (via Skyward Holdings LLC and Aeris[...]
FOR THE RECORD
Central Virginia Electronic circuit board manufacturer and supply chain service provider Jabil plans to establish a new plant at Crosspointe Logistics Center in Prince George County, creating an expected 352 jobs, Gov. Abigail Spanberger announced in late May. The facility, scheduled to open this fall, will produce critical power[...]
Wall Street ends higher as US-Iran attacks ease; major tech-related shares jump ; major tech-related shares jump
June 29 (Reuters) - U.S. stocks ended sharply higher on Monday, with the Dow hitting a record closing high, as weekend hostilities between the United States and Iran eased and as major technology-related shares rose following recent selling. A source told Reuters that Iranian and U.S. technical teams working on the implementation[...]
Data center discord continues to block Virginia budget agreement
In Manchester Middle School's auditorium in Chesterfield County, three state senators showed up Tuesday night, ready to listen to people's thoughts on data centers and the state's tax exemption for data center developers. Sen. L. Louise Lucas, the Virginia Senate's president pro tempore and chair of the Senate Finance and Appropri[...]
ODU Board of Visitors extends Hemphill’s contract to 2032
Updated June 23 Three months after Old Dominion University's Faculty Senate cast a vote of no confidence in President Brian O. Hemphill, the Board of Visitors on Monday reaffirmed its support for the university leader, extending his contract through 2032. The board cited "unwavering confidence" in Hemphill and pointed to a seri[...]
SpaceX locks in $60 billion Cursor deal to power AI coding push
June 16 (Reuters) - SpaceX is buying Anysphere, the company behind the popular AI coding agent Cursor, for $60 billion in an all-stock deal to boost its presence in the lucrative enterprise AI tools market. The acquisition, announced on Tuesday, comes days after Elon Musk took the rockets-to-AI company public in a blockbuster Nasd[...]
Microsoft sued by shareholders over expenses, cloud business, AI
June 15 (Reuters) - Microsoft has been sued by shareholders who accused the company of defrauding them and inflating its stock price by failing to disclose slowing growth in its Azure cloud business and the need to spend billions of dollars on AI infrastructure. The proposed class action led by a Michigan pension fund was filed in[...]
OpenAI files for US IPO after Anthropic as AI giants head to public markets
June 8 (Reuters) - OpenAI confidentially filed for a U.S. initial public offering recently, the ChatGPT maker said on Monday, joining rival Anthropic in a push toward a stock market listing as it looks to tap into insatiable investor demand for AI shares. OpenAI did not disclose the size or terms of the offering, and said a timeli[...]
S&P 500, Nasdaq end up as tech, chipmakers rebound
June 8 (Reuters) - U.S. stocks ended mostly higher on Monday, led by gains in the Nasdaq and chipmakers as investors sought bargains after Friday's sharp selloff and were relieved after Iran and Israel said they had halted attacks on each other. The halt came after an appeal from U.S. President Donald Trump that they immediately "[...]
SpaceX lands Google AI compute deal after Anthropic pact ahead of IPO
June 5 (Reuters) - SpaceX said on Friday it has entered into a multi-year cloud services agreement with Alphabet's Google, locking in computing capacity as it prepares for its highly anticipated U.S. stock market debut next week. As part of the deal, Google will pay SpaceX $920 million monthly from October this year to June 2029[...]
Google data centers, tech projects coming to Roanoke Valley
No longer content with letting Northern Virginia dominate data center development in the commonwealth, Botetourt County has lured one of the world’s largest tech companies to the Roanoke Valley. After purchasing a 312-acre lot at the county’s Botetourt Center at Greenfield industrial park for $14 million last summer, Google plans[...]
2026 Virginia C-Suite Awards: H. GARRETT HART III
With four decades in economic development, Hart has positioned Chesterfield County as a major destination for business investment, including the $1 billion Lego Group manufacturing facility, Commonwealth Fusion Systems’ multibillion-dollar project to build the world’s first grid-scale commercial fusion power plant and major invest[...]
OpenAI aiming for speedy IPO, source says, as market awaits SpaceX filing
May 20 (Reuters) - OpenAI is preparing to confidentially file for a U.S. initial public offering in the coming weeks, a source familiar with the matter told Reuters on Wednesday. The plan by the ChatGPT maker, which was last valued at $852 billion, comes two days after it fended off an existential court challenge from Elon Musk an[...]
Google in talks with SpaceX for Suncatcher orbital data center project
May 12 (Reuters) - Alphabet's Google on Tuesday said it has been in discussions with Elon Musk's SpaceX and others regarding future launches for its Project Suncatcher, an orbital data center project. Google is pushing the space-based data center idea with Project Suncatcher, a research effort to network solar-powered satellites e[...]
