As of Oct. 23, 2026, Stargate Argentina remained at the letter-of-intent stage, with no definitive contract, Bloomberg Línea reported. The report described OpenAI as a potential buyer of computing capacity, conditional on Sur Energy developing the required energy and infrastructure.
OpenAI was a potential customer, while Sur Energy would lead
OpenAI announced on Oct. 14, 2025, that it and Sur Energy had signed a letter of intent to explore a large-scale data center project in Argentina. Under the plan, Sur Energy would lead and form a consortium that included a cloud infrastructure developer. OpenAI described itself as a potential offtaker, meaning a prospective customer for the facility’s computing capacity.
Bloomberg Línea’s October 2026 report said any purchase by OpenAI depended on Sur Energy developing the necessary energy and infrastructure. The arrangement described OpenAI as a possible customer, not the project’s lead developer.
The proposal set a 500 MW ceiling and a 100 MW first phase
Data Center Dynamics reported in October 2025 that the proposed project could reach up to 500 megawatts (MW), with investment of up to US$25 billion. The same report put the first phase at 100 MW, targeted for 2027. Those were proposed figures and a target, rather than completed capacity or spending.
Kargieman described site selection in Neuquén
Bloomberg Línea’s Oct. 23, 2026 report attributed to Sur Energy co-founder Emiliano Kargieman that site selection had advanced to the Confluencia area of Neuquén, in coordination with the provincial government. Kargieman also said Sur Energy had energy-supply agreements with Central Puerto and Genneia, and an agreement with compute-infrastructure company Fluidstack.
