Private equity executive plans data centers using Texas oil field wastewater

David Capobianco, co-founder of private equity firm Five Point, wants to use wastewater from Texas oil fields to cool AI data centers. Oil production in the Permian Basin generates huge amounts of wastewater every day. Instead of treating this as waste, Capobianco sees it as a useful resource. His company's portfolio firm LandBridge owns 10,000 acres in Reeves County, a remote area with very few people and almost no natural water sources. Data centers need large amounts of water for cooling, so the region's wastewater could fill that need. Capobianco's plan would also offer companies everything they need to build a data center in one deal. The Permian Basin produces around 7 million barrels of oil daily, creating a steady supply of wastewater.