Three major deals in 48 hours signal accelerating capacity scramble; Dublin (PJM) constraint score hits 72.5 as secondary markets tighten
## Highlights
Amazon committed to **1,000 MW** of new capacity on June 25, the largest single hyperscaler deal logged this week and part of a three-deal, 48-hour burst that included Microsoft's **$850M acquisition from Meta** (June 24) and CoreWeave's **$355M transaction** (also June 24). The three deals alone represent over **2.2 GW-equivalent** of committed load or capital, bringing estimated Q2 2026 hyperscaler acquisitions above **3 GW** — a pace not seen since Q4 2025.
## What it means
The velocity matters more than the headline MW. Amazon, Microsoft, and CoreWeave are all moving on *existing* facilities or pre-negotiated capacity, not greenfield — a signal that plug-and-play inventory in Tier-1 metros is now the constraint, not capital. For developers holding pre-permitted sites with **excess power scores above 65** (Cheyenne, WY at 69.5; Rural SPP at 67.2), this is the window to lock offtake or sell forward.
At the same time, **Dublin (PJM)** posted a **constraint score of 72.5** this week, the highest in the Ohio Valley and a 4-point climb since May. That score reflects lengthening interconnection queues, substation capacity limits, and a thinner margin for expedited builds. It is now cheaper and faster to build 100 MW in Cheyenne than to add 20 MW to an existing Dublin campus.
## Methodology
Deal data aggregated from M&A filings, utility disclosures, and hyperscaler earnings transcripts; cross-referenced with DC Hub's live facility and power-index layers. Constraint scores derived from ISO interconnection queue depth, substation headroom, and permit-to-energization lead times, updated daily.
**Source:** DC Hub Data Center Power Index (https://dchub.cloud/dcpi). Updated daily.
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