{"generated_at":"2026-10-01T09:40:57.730993+00:00","key_stats":{"computed":"2026-10-01T06:39:33.957218+00:00","constraint":45,"dcpi_score":60.4,"excess":65,"facility_count":19,"mw_reporting_count":1,"name":"Fort Worth","recent_deals":[{"buyer":null,"date":null,"mw":null,"seller":null,"value":10000.0}],"slug":"fort-worth","state":"TX","top_operators":[{"count":3,"name":"Unknown"},{"count":2,"name":"QTS Realty"},{"count":2,"name":"Meta"},{"count":1,"name":"CITIGROUP TECHNOLOGY INC"},{"count":1,"name":"Cyxtera"}],"total_mw":80.0,"verdict":"BUILD"},"model":"claude-haiku-4-5","name":"Fort Worth","narrative_md":"Fort Worth's data center footprint remains nascent but strategically positioned: 19 tracked facilities totaling 80 MW represent a small fraction of the broader Dallas-Fort Worth region's 7,451 MW across 238 facilities, yet the city has become a focal point for new development. The operator base is fragmented, dominated by three unknown operators and supported by QTS Realty (2 facilities), Meta (2 facilities), and single presences from Citigroup Technology and Cyxtera. Recent M&A activity in the Fort Worth proper has stalled\u2014no closed deals are recorded\u2014though the broader Texas market signals sustained appetite, with precedents including Flexential's 108 MW Dallas-area campus acquisition and Mara's commitment to a 2 GW Texas site.\n\nThe DCPI verdict of BUILD, driven by excess-power strength (65/100) and moderate constraint pressure (45/100), indicates Fort Worth has moved past capacity concerns into territory favoring new supply. The excess-power score signals that regional grid capacity and generation availability support incremental facility construction without acute scarcity. The constraint score, while not bottleneck-critical, reflects competition for land, interconnection slots, and municipal permitting\u2014factors that favor operators with existing relationships and capital velocity. For acquisition-focused buyers, the verdict translates to greenfield and expansion opportunities outweighing replacement-cycle acquisitions; for operators, it supports speculative lease-up strategies.\n\nDeal flow remains dormant in recorded M&A, a condition consistent with Dallas-Fort Worth's broader dormancy pattern, yet regulatory and development signals contradict this silence. Fort Worth's municipal approvals for a $10 billion data center campus and active filings from liquid-cooled specialists like Colovore indicate off-market deal structuring and early-stage project development. The fragmented operator ownership\u2014heavy weighting toward unknowns (3 of 7 tracked operators)\u2014suggests either underdisclosed entities or pre-consolidation private holdings vulnerable to acquisition or partnership. QTS and Meta's dual presence, combined with Citigroup and Cyxtera's single facilities, points to a market in transition where major hyperscalers and REITs are selectively expanding rather than competing broadly.\n\nAs Fort Worth navigates its statewide data center audit and municipal capacity limits, the window for build-out will likely narrow, making entry or expansion in the next 12\u201318 months strategically valuable for capital-ready operators seeking unencumbered power and land access before regulatory frameworks harden.","slug":"fort-worth","word_count":349}