Eric Schmidt Bets on Energy to Power the Next Wave of AI
Eric Schmidt could have stepped away from work years ago. After leading Google as CEO and later executive chairman for nearly two decades, he reached retirement age in 2020. Instead, at 70, he remains actively involved in shaping how artificial intelligence develops, guided by the belief that periods of major technological change demand responsibility rather than withdrawal.
That mindset was strongly influenced by Henry Kissinger, the former U.S. secretary of state and longtime adviser who became a close friend and mentor. Kissinger worked well into his later years and believed that moments of global transformation required continued engagement. This perspective helped shape Schmidt’s thinking on AI, including their 2021 book The Age of AI , published before generative AI entered the mainstream. The emphasis was less on innovation for its own sake and more on guiding technology in ways that serve broader public interests.
In recent years, that philosophy has translated into new ventures. Schmidt became CEO of aerospace manufacturer Relativity SpaceDealroom has a profile for this one. Try Dealroom → after acquiring a controlling stake, and later co-founded Bolt Data & EnergyDealroom has a profile for this one. Try Dealroom →, where he now serves as chairman. Bolt focuses on developing large-scale, vertically integrated power and data center campuses, targeting West Texas as a next-generation hub for AI infrastructure.
The company has raised $150 million in initial capital and partnered with Texas Pacific Land CorporationDealroom has a profile for this one. Try Dealroom →, which committed an additional $50 million investment. Texas Pacific Land, one of the region’s largest landowners with roughly 882,000 acres in the Permian Basin, will provide land access and infrastructure support, including water supply rights. The partnership allows Bolt to colocate data centers with dedicated power generation, reducing reliance on constrained electric grids and shortening development timelines.
Bolt plans to start with natural gas–powered facilities, taking advantage of low-cost fuel and abundant land, while gradually expanding into renewables, battery storage, and potentially nuclear power over time. By combining land, energy, water access, and compute infrastructure under one platform, the company aims to address what Schmidt has described as the biggest bottleneck facing AI today: energy availability. For Schmidt, continuing to work past 70 is less about staying busy and more about tackling what he sees as one of the defining challenges of this era—building the physical foundations needed for AI to scale responsibly.
Sources:
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The Real Deal
A.M.
