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Texas Pacific Land Corporation's stock surged 5.6% after announcing a strategic partnership with Bolt Data & Energy to develop AI data centre campuses in West Texas. The deal includes a $150 million capital raise, with Texas Pacific contributing $50 million, gaining equity interest and water supply rights. This positions Texas Pacific to play a significant role in AI infrastructure development, despite not being a traditional tech stock. The partnership aims to establish West Texas as a global hub for AI data centres.
Horizon Kinetics Asset Management LLC has acquired common shares of Texas Pacific Land Corporation, as reported in a recent SEC Form 4 filing. This acquisition was disclosed by Texas Pacific Land Corporation through the EDGAR system of the U.S. Securities and Exchange Commission. The information is for informational purposes and not financial advice.
Texas Pacific Land Stock: Is TPL Underperforming the Energy Sector?
Texas Pacific Land Corporation (TPL) has invested $50 million in Bolt Data & Energy, Inc. to develop large-scale data center campuses on TPL land in West Texas. TPL will receive an equity interest, warrants, and a right of first refusal to supply water to Bolt-affiliated projects. Bolt raised $150 million in capital for this collaboration, which aims to leverage TPL's land and expertise for data center infrastructure powered by conventional and renewable energy sources.
Texas Pacific Land (TPL) has filed an amendment to more than triple its authorized common shares, formalizing a stock split effective in late December. Despite a challenging year with a 24.56% decline in share price, TPL has a 5-year total shareholder return of 292.59%. The stock is currently considered overvalued at $890.30, with a fair value of $842.50, though a DCF model suggests it might be slightly undervalued. The company is exploring future revenue avenues in industrial water supply and renewable energy.
