Comstock Commits $10M to 50/50 AI Data Center Venture in Oklahoma
CHCI•Comstock has committed $2.75 million at closing and up to $5.75 million more, totaling $10 million including prior equity, to a 50/50 joint venture with Jericho to develop AI data center campuses on Oklahoma land. The JV leverages Comstock’s development expertise and Jericho’s power, gas, water and fiber infrastructure.
1. Joint Venture Formation and Objectives
Comstock Holding Companies and Jericho Energy Ventures formed a 50/50 joint venture, Oklahoma AI Ventures LLC, to acquire and develop land on Jericho’s existing energy infrastructure footprint in Oklahoma for AI data center campuses and related digital infrastructure.
2. Capital Commitments and Ownership Structure
Comstock contributed $2.75 million at closing and will invest up to an additional $5.75 million under approved budgets, combining with its prior $1.5 million equity stake to total $10 million of committed capital; Jericho and its affiliate contributed land interests valued at $5 million each.
3. Strategic Rationale and Next Steps
The partnership combines Comstock’s land aggregation, entitlement, and project execution expertise with Jericho’s power, natural gas, water, and fiber assets to support hyperscale AI computing demand; completion is subject to customary closing conditions and MI 61-101 approvals.
