Fatai brown

The writing is always on the wall. Just look a little closer .

[Fatai brown @fataibrown]

$Nuai has been adding some of the best talent to assemble a power house. The journey is happening before our eyes. Very undervalued market cap compared to its peers who have no hyperscale deal at the moment. Execution will make the stock run violent. Institutions will then join.

[Dulce @litigious_dulce]

I'll be brief. Based on the highlighted sentence from the recent Northland company update, I believe the probability of $NUAI closing a hyperscaler deal by October 2026 is basically 100%. In fact, I believe October is the line in the sand, and the signing date will likely be late July or early August. Therefore, it would make sense for all data center investors (e.g., investors in $IREN, $WULF, $CIFR, $APLD, $HUT, etc.) to have some exposure to NUAI by August, even if only a lotto position.

[Kash @KashRamki]

The latest research report on $NUAI from Northland is solid. While I think the price target of $11/sh is highly conservative - I peg it between ~$20/sh on the first 200MW deal alone - there are several insightful nuggets regarding the company’s latest hires and the 206MW power contract between Vistra and $CIFR.

Between that and my meeting with NUAI management at the Macquarie AI infrastructure conference last week, things appear well on track.

NUAI felt like a slam dunk to me last year, when I began investing in this company. TCDC is a pristine asset with an excellent team in Will and Charlie. They have since executed on several fronts: balance sheet cleanup, new credit facility with Macquarie, excellent management hires to broaden out the bench, strong partnerships with leaders such as PDI and Stream, improving competitive positioning with tactical land acquisitions and addressing frivolous lawsuits. Remarkable progress in the past 6mths.

The BTM strategy is the one of the most misunderstood and asymmetric opportunities in today’s datacenter market. Even those in the industry don’t fully understand the virtues of this approach. Most good things take time to be fully appreciated. This is no different. What’s strange here is that @elonmusk has already done this at Colossus and people are still in disbelief that BTM is viable.

If you value this company based on the 1GW at TCDC, 650MW of which have already been detailed by management, at ~45-50% interest in the development, NUAI is a ~$10bn company. I suspect it gets there quickly.

The patient investor will be rewarded here.

NFA

[Fatai brown @fataibrown]

@anthonynoto buy more $SOFI

[Fatai brown @fataibrown]

Would you consider $Te ?@StockSavvyShay

[Fatai brown @fataibrown]

$Nuai volatility is the price you pay for being early. Know what you own. Next 3 months will be all about execution. Should be an amazing summer with tons of updates and milestones.

[Fatai brown @fataibrown]

@BlackPantherCap @JMT94590 @moninvestor $Nuai is up

[Fatai brown @fataibrown]

@archahood Add me

[Fatai brown @fataibrown]

$Nuai has been adding some of the best talent to assemble a power house. The journey is happening before our eyes. Very undervalued market cap compared to its peers who have no hyperscale deal at the moment. Execution will make the stock run violent. Institutions will then join.

[Caleb Williams @CALEBcsw]

Dream come true to be on the cover of Madden! See you Thursday in Chicago for the full reveal 😎

[Fatai brown @fataibrown]

@StockSavvyShay Are you interested in buying $TE?

[Fatai brown @fataibrown]

@StockSavvyShay @RetailKingsETF $Nuai the land lord down the street , very early but will catch up in due time .

[Fatai brown @fataibrown]

@leopoldasch look into $Nuai

[Dulce @litigious_dulce]

New Era Energy & Digital ($NUAI): A bull case for an AI-infrastructure story the market is still underestimating

NUAI is a re-rating in progress. A former Permian Basin E&P that has pivoted into large-scale AI/HPC data-center development, the company is systematically retiring the legal and capital-structure overhangs that have kept institutional capital on the sidelines — while the equity still trades closer to the baggage than to the platform underneath it. The setup is the familiar small-cap asymmetry: a genuinely scarce underlying asset priced at a discount to its de-risked value because the market has not yet marked the clean-up to par.

The asset is Texas Critical Data Centers (TCDC), a ~492-acre campus in Ector County, Texas, with ~650 MW of capacity secured and a design that scales toward 1.4 GW. The thesis in one line: management is clearing overhangs faster than the stock has repriced, while assembling the financing, operating, and commercial partnerships needed to convert powered land into contracted, project-financed cash flow. The sections below lay out the de-risking, the platform being built against it, the capital-markets catalysts, the Street's early valuation work — and, in fairness, what has to go right for the gap to close.

The defense: clearing the overhangs

Sharon AI is gone — and paid in cash. The single largest structural overhang was NUAI's partnership obligation to Sharon AI in the TCDC joint venture. That chapter is now closed. NUAI consolidated full ownership of TCDC, and on April 24, 2026 it repaid the remaining $50 million senior secured convertible note to Sharon AI entirely in cash, plus accrued interest — eliminating the conversion-driven dilution that had been hanging over the share count. Total consideration on the buyout came in around $74 million, and crucially, Sharon AI retains no ownership, governance, or control rights in the campus. A messy, two-headed JV became a clean, wholly owned flagship.

The ATW structure has been de-risked. Earlier in the year the company scrapped a planned convertible preferred issuance — exactly the kind of variable-priced instrument that tends to grind small-cap charts lower — in favor of an amended waiver with ATW AI Infrastructure II that reset warrant exercise prices to a fixed $2.00. That converted a potentially toxic, open-ended dilution mechanism into a known, fixed-strike overhang that is now being worked down as warrants are exercised. It is not fully retired — there remain unexercised warrants on the books — but the shape of the dilution is dramatically friendlier than it was, and the worst-case path is off the table.

The New Mexico lawsuit is being settled. On May 28, 2026, the company announced a pending agreement that would dismiss every State of New Mexico claim against New Era — five claims in total — for a $1 million payment to the bankruptcy trustee, subject to court approval. The stock moved double digits in after-hours trading on the news, a sign of just how much the litigation cloud had been weighing on sentiment. This removes the corporate legal overhang that had made many institutions reluctant to underwrite the story.

The offense: building a platform that can execute

Removing overhangs only matters if there's something worth de-risking. Since March, the moves on the offensive side have arguably been more important than the defensive ones:

A real CFO for a capital-intensive business. In March, NUAI brought on Ted Warner as Chief Financial Officer. This is not a generalist hire — Warner ran Northland Capital Markets' Energy, Power and Digital Infrastructure practice, which since 2023 has structured more than $7 billion of financing for large-scale data-center development. For a company whose entire value-creation path runs through project finance and capital partnerships, hiring a banker who has actually closed this exact type of deal is a tell.

Macquarie validated the asset. Also closed in early April: a multi-tranche senior secured term loan credit facility of up to $290 million with Macquarie Group, earmarked for the TCDC flagship. A blue-chip infrastructure lender does not extend a facility of that size against a project it hasn't diligenced. Combined with a $115 million registered equity offering, management reported $80 million-plus in cash as of April 30 — runway to actually execute rather than survive.

The bench is now stacked with hyperscaler-native talent. What had been a thin team is being built out quickly. On June 1, NUAI named Evan Pierce as Chief Development Officer and Michael Johnson as General Counsel and Chief Compliance Officer — and the pedigrees matter as much as the titles. Pierce spent two decades on the customer-and-infrastructure side of this exact business: most recently leading data-center site and energy development for the Americas at EdgeConneX, and before that in energy, utility-engagement and capacity roles at Amazon/AWS and ByteDance, with a hand in planning more than 5 GW of data-center and power infrastructure. NUAI effectively just hired someone who has sat in the hyperscaler's seat and knows exactly how these tenants evaluate sites and procure power.

Johnson, the new GC, arrives from CoreWeave and, before that, Switch — two of the most relevant names in the industry — bringing three decades of data-center leasing, powered-land acquisition, construction and financing experience. Pairing a heavyweight GC with a dedicated compliance mandate also signals a deliberate institutionalization of governance, which is precisely what an investor base wary of the litigation overhang wants to see. You don't recruit people like this to sit idle; you recruit them to paper a lease and build.

A Tier-1 operator and institutional capital are circling — and a hyperscaler appears to be steering. On April 1, NUAI signed a non-binding LOI to form a development-and-financing joint venture for TCDC with Stream Data Centers, a top-tier U.S. data-center operator, alongside an institutional capital partner. New Era contributes site control and local execution, Stream serves as developer and operator, and the institutional partner provides equity and arranges the bulk of project-level debt. Two details elevate this above a routine LOI. First, Northland's research describes the pairing as effectively brokered by the prospective hyperscaler tenant itself — the customer pointing NUAI toward the partners it wanted building and financing the site, which is a meaningful tell on intent. Second, Stream was acquired by Apollo Global Management in late 2025 at a valuation of roughly $40 billion, and the institutional partner is believed (per Northland) to be Apollo — putting some of the most credible capital in infrastructure behind the structure. It is still an LOI, not a signed definitive, but the roster is what turns a development concept into a financeable platform.

The power story is validated. What differentiates TCDC is not the dirt — it's the power. NUAI's "behind-the-meter" (BTM) thesis received concrete substantiation through a 450 MW behind-the-meter generation plan at TCDC developed with named partners Thunderhead Energy and TURBINE-X Energy. In a market where the binding constraint on AI buildout is increasingly electrons, not acres, a credible path to nearly half a gigawatt of on-site generation is the asset.

The hyperscaler is in advanced negotiations — over secured capacity, not a concept. The event that would re-rate the whole equity is a hyperscale lease. Management has described advanced commercial discussions with a top-tier, credit-worthy hyperscaler — realistically one of the big four cloud builders (Alphabet, Amazon, Meta, Microsoft) — for a campus with roughly 650 MW already secured and a path beyond 1 GW. The acquisition of an additional 54-acre corridor adjacent to Vistra and Calpine power plants was itself a milestone within those lease discussions. Timing is framed conservatively around fall 2026, and conservatism here is a feature given how the market punishes overpromising. The backdrop is favorable: recent hyperscale leases in the sector have printed in roughly the $140–190 per kW per month range (at least one recent deal involving Google reportedly reached ~$188), while the big four are guiding to historic 2026 capex — Alphabet to about $175–185 billion and Amazon to around $200 billion — as demand outruns deliverable power. In that environment, a power-secured, near-shovel-ready site is exactly what is scarce.

The invisible bid: a capital-markets function, finally resourced

Not every driver of a stock is a press release. For most of its life, NUAI was too small and too underfunded to run the kind of investor-relations program that institutional money expects — sustained institutional outreach, non-deal roadshows, analyst targeting, the steady cadence of being in front of the right funds. Those functions weren't broken; they were simply never staffed. That is changing, and the upgrade is visible in the hires themselves.

The company's investor relations now runs through OG Advisory Group, where the engagement is led by Lincoln Tan — who previously ran investor relations and marketing at IREN through precisely the kind of transition NUAI is now attempting (a power-and-mining story re-rating into an AI data-center story), and who came to IR from Macquarie Capital. Pair that with CFO Ted Warner, whose career was built structuring data-center financings on Wall Street, and the company has, arguably for the first time, a team explicitly equipped to court institutional capital rather than simply collect retail attention.

The practical implication is the kind of "invisible" activity that rarely makes headlines but steadily changes a stock's character: institutional meetings, conference presence (B. Riley in May, Datacloud in June), and the normal rhythm of roadshows and analyst engagement that turns a thinly followed micro-cap into a name long-only funds can actually own. As the shareholder base broadens and deepens, two things tend to follow — a higher-quality register and lower volatility — as price discovery shifts away from fast retail money toward investors underwriting a multi-year build.

This compounds with the de-risking. Every overhang removed — the lawsuit, the dilutive structures — is one less reason for a fundamental investor to pass and one less piece of "hair" on the story. The explicit catalysts get the headlines; this quieter professionalization of the capital-markets function is part of what lets them stick.

What the Street is starting to see

Sell-side coverage is one of the clearest signs the professionalization is working. In April, Northland Capital Markets initiated coverage with an Outperform rating and an $11 price target — against a share price barely above $5 at the time, implying roughly 2x upside. The logic is a staged, project-finance valuation: Northland credits only ~283 MW of TCDC capacity (Phase 1 plus half of Phase 2), assumes NUAI retains ~45% of the JV, applies a ~19x EV/EBITDA multiple in line with listed data-center peers, and discounts back on a ~125 million fully-diluted share count. Notably, that target deliberately excludes the back half of secured capacity, all of Phase 3, and NUAI's entire ~7 GW wholly-owned New Mexico pipeline (a ~3,500-acre Lea County site with a small-modular-reactor angle via a Last Energy partnership) — meaning the bull case carries option value the published target doesn't pay for.

NUAI now has its first real institutional research footprint, and a company running a proper IR program with a clean-up story to tell typically attracts more coverage over time. Additional analysts picking up the name through year-end — plausibly several — would broaden the buy-side audience and is exactly the kind of slow, compounding tailwind the "invisible bid" is built on.

The catalysts ahead

The next few weeks and months offer a dense sequence of potential catalysts:

Datacloud Global Congress, June 2–4, Cannes. President & COO Charlie Nelson is scheduled to speak at the industry's marquee gathering — the kind of room where hyperscalers, Tier-1 operators, and institutional capital allocators are all present (in fact, the hyperscalers, Stream, and Apollo are all present). For a company in active lease and JV negotiations, the value of being on that stage, at that moment, is hard to overstate.

A Stream JV definitive agreement converting the LOI into something binding.

A hyperscaler lease, the single highest-impact event in the story.

Expanding analyst coverage. With one Outperform initiation on the board, additional firms picking up the name — potentially several by year-end — would deepen the institutional audience.

A still-growing team. The June 1 additions of a chief development officer and general counsel are likely an opening move, not the finish; further senior hires would keep signaling that management is staffing for execution and often front-run bigger announcements.

The picture

Step back and the pattern is consistent: every quarter, if not every month, a structural negative has come off the board and a structural positive has gone on. Sharon AI — cleared. The toxic-preferred path — scrapped. The state lawsuit — settling. In their place: a Macquarie facility, a Tier-1 operating partner, a validated power plan, a CFO and now a development chief and general counsel drawn straight from the hyperscaler and data-center world, and an $80 million-plus cash cushion. The market tends to discount a stock for its overhangs right up until the moment they're gone — and then re-rate it for the platform underneath. With the first sell-side target sitting at roughly double the recent price and explicitly excluding most of the pipeline, the gap between where NUAI trades and what a leased, financed platform could be worth is the heart of the opportunity. NUAI is converting overhangs into catalysts on a remarkably steady cadence.

[Kash @KashRamki]

Great hires! Well done $NUAI!

[Fatai brown @fataibrown]

@FuzzyPandaShort it might be a better career if you switch from being short to long . You clearly have an eye for winners $Te ripped and $Nuai will both be 10-15 baggers .

[Fatai brown @fataibrown]

$Nuai I’ll say it again brick by brick … welcome Evan pierce , great addition.

[Fatai brown @fataibrown]

$Nuai Execution is key , brick by brick the team has being building and gaining more momentum. This has been a fun journey thus far . Know what you hold.

[Fatai brown @fataibrown]

$Nuai Execution is key , brick by brick the team has being building and gaining more momentum. This has been a fun journey thus far . Know what you hold.

[Fatai brown @fataibrown]

$Bull will double from here.