Envision Galaxy Ulanqab is an AI data center under construction with an unknown owner. In Q4 2027, we project it to host an estimated 170k H100-equivalents of AI compute, supported by 470 MW of IT power at a capital cost of $17.8 B.

The timeline of IT power and AI compute capacity is based on satellite imagery, regulatory filings, our cooling equipment power model, chip availability, chip efficiency, and company disclosures.

Envision has stated this data center is built for large-scale model training. The first building is reportedly allocated to major Chinese tech companies, while subsequent buildings may be allocated to startups working on large model training.