Arauca Capital B.V. / Arauca Capital Fund on Texas Pacific Land Corporation

Arauca believes the clearest remaining opportunity connected to AI is power infrastructure rather than trying to identify the next winning model or chip architecture. Every data centre requires electricity, land and water, while the infrastructure connecting new capacity can take years to permit and build. New Texas rules requiring data centres to fund the infrastructure they need and placing greater scrutiny on grid connections strengthen the position of owners of strategically located land and platforms that can facilitate private or behind-the-meter power.