Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTFiona CraigTue, August 11, 2026 at 4:59 PM GMT+2 4 min readHandshake ©Adobe Stock ImagesThe proposed $5 million staged investment would give Senmiao an initial position in a Utah infrastructure campus targeting 100 MW of firm capacity by Year 2 and potentially up to 1.2 GW by Year 6.Key Investor TakeawaysSenmiao Technology (NASDAQ:AIHS) signed a non-binding letter of intent for a staged $5 million investment in Energence Utah, marking a proposed step in its shift toward digital infrastructure.The Energence Utah partnership targets 100 MW of firm capacity by Year 2, increasing to 700 MW by Year 4 and potentially 1.2 GW by Year 6.The planned 5,046-acre Utah campus includes a 475-acre data campus designed to support up to 1 GW of data center development, alongside generation, storage and industrial infrastructure.The $5 million investment is development capital rather than construction funding, leaving the larger buildout dependent on financing, permits, interconnection, equipment procurement and commercial agreements.The transaction remains preliminary because the letter of intent is non-binding and subject to due diligence, definitive agreements, approvals and closing conditions.Why AIHS Stock Is in FocusSenmiao Technology's proposed Energence Utah partnership represents an early move in its planned transformation from its historical automobile transaction and related services operations toward digital infrastructure.Under the letter of intent, Senmiao would invest $5 million in stages directly into Energence Utah LLC, the project company developing the campus in Duchesne County. The capital is intended to advance development work needed to establish an executable and financeable project rather than cover full construction costs.The current development schedule calls for 100 MW of firm capacity by Year 2 using planned gas generation, solar photovoltaic generation and battery storage. That target increases to 700 MW by Year 4, supported by utility service and other power resources, before potentially reaching 1.2 GW of firm capacity and approximately 1.9 GW of total connected capacity by Year 6.The proposed 5,046-acre campus includes a 475-acre data center area designed for up to 1 GW of development, expandable to more than 1,000 acres. It also includes 200 acres for an integrated energy center and approximately 1,440 acres allocated for planned solar generation.Elio Energy Group is expected to lead key development activities. According to the release, Elio has approximately 3.5 GW in active development, comprising roughly 1.5 GW of generation and 2.0 GW of planned storage capacity targeted through 2029.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info