Potential Carrier project in Texas lists estimated fit-out cost of $500 million
Key Facts
A filing for Project Jay with the Texas Department of Licensing and Regulation lists an estimated cost of $500 million for site fit-out work linked to Carrier Global's potential project in the state. The figure covers the project work registered with the department, part of plans that coincide with the company's expansion in data center cooling. The filing classifies the work as "renovation and alteration" and includes fitting out parts of an existing building. The registered area totals 600,000 square feet, according to the department's data on the project's scope. That scope includes installing infrastructure to support 3 manufacturing lines as part of work to modify the facility and prepare it for industrial use. The potential project comes as Carrier reported data center order growth of more than 300% in its second-quarter 2026 results.
The second-quarter order growth followed an increase of more than 500% in the first quarter of 2026, according to Carrier's earnings statement for that period. The company said at the time that its backlog fully covered the data center sales it expected to generate during the year. In its July update, it raised its annual sales forecast for the business to about $2 billion from previous guidance of $1.5 billion, according to the earnings presentation reported by Investing.com. At the group level, Chief Executive David Gitlin raised the 2026 total sales forecast to about $23 billion, according to the second-quarter earnings statement. Gitlin attributed the higher forecast to record backlog levels and the company's performance since the start of the year. He said in the statement: "Given record backlog levels and our year-to-date performance, we are raising our full-year outlook."
Carrier links its expansion in advanced cooling technologies to rising power densities in chips running artificial intelligence applications. In a statement on its technology investments, the company said "AI-driven chip power densities continue to rise," increasing demand for specialized cooling solutions. In April, it expanded its investment in ZutaCore, which specializes in waterless direct-to-chip liquid cooling. The investment aims to expand the use of these solutions in AI data centers, according to Carrier's statement. The company's thermal management offerings include the QuantumLeap system, which combines intelligent cooling, digital controls, predictive monitoring and services. Carrier presents the system as an integrated package for managing the cooling cycle within data centers, combining equipment with control, monitoring and service functions.
On spending, Carrier raised its total capital expenditure guidance to about $600 million from about $500 million previously in its second-quarter results update, according to Investing.com. That guidance covers company-wide investment, while the estimated cost of the Texas project work registered with the department is $500 million. The next event on the company's disclosure calendar is its third-quarter results announcement on 29 October 2026, according to the date listed on Carrier's investor relations website. The results are scheduled before the start of fit-out work specified in the Texas project filing, which sets 1 December 2026 as the start date. The schedule registered with the state's Department of Licensing and Regulation sets 1 September 2027 as the completion date for the renovation and alteration work.