iPower signed a five-year AI equipment services letter of intent
iPower Inc., through its wholly owned subsidiary iPower AI LLC, received a customer-signed, non-binding letter of intent for a five-year AI equipment services and management relationship, announced on 15 October 2026 sec.gov. The engagement targets $21.90 million in potential annualized services and contemplates growth from 48 to 396 AI computing units during 2027, which makes it the clearest build-out change this week for a lender or an owner selling into data centers and power.
Tracker. The MISO interconnection queue, read on 19 October 2026, lists 1,135 active requests totaling 251,726 MW. Requests entered in the last 30 days: 2, totaling 500 MW; in the last 90 days: 109, totaling 34,811 MW. Projects under construction after signing an interconnection agreement: 128, totaling 20,285 MW. The largest active fuel types by capacity: not stated (69,169 MW), solar (63,611 MW), battery storage (43,862 MW).
iPower said the proposed engagement marks a step forward in its transformation into an AI infrastructure and services company. The customer-signed letter of intent covers AI equipment services and management, and the expansion plan contemplates growth from 48 to 396 AI computing units during 2027, with the five-year relationship targeting $21.90 million in potential annualized services.
Two other filings this week show the same build-out from different angles. The NXG Cushing Midstream Energy Fund announced on 16 October 2026 that its board approved a name change to The NXG Cushing Energy Infrastructure Fund, effective 18 December 2026, with no change to its New York Stock Exchange ticker and its CUSIP remaining 231631300 sec.gov. Empery Digital Inc. announced on 15 October 2026 that its shareholders elected eight of the company's nine director nominees at its 2026 annual meeting sec.gov.
The queue numbers and the documents together show how long a site waits for power. The MISO interconnection queue holds 1,135 active requests totaling 251,726 MW, but only 128 projects totaling 20,285 MW are under construction after signing an interconnection agreement, and only 2 requests totaling 500 MW entered in the last 30 days. iPower's plan to grow from 48 to 396 AI computing units during 2027 is the demand side of that queue: a services company moving into AI infrastructure needs power and interconnection, and the queue shows how much of that demand is still waiting rather than built. The NXG Cushing fund's move to an energy infrastructure name points the same way, toward the physical build-out behind compute.
What to watch next is whether iPower's letter of intent becomes a signed agreement and whether the 396 AI computing units begin to come online during 2027, since both are the next checkable steps in the document.