"At the end of 2024, Texas' grid operator had 63 GW of large new customers in its queue. By this June, that figure reached 474 GW, more than five times record peak demand." "Then Texas hit pause." "Developers routinely spam requests across several sites, and many are speculative builds with no customer yet." "Planners can't tell which are real, and they don't want ratepayers covering upgrades built for projects that never show up." "Fully connecting a large data center can take 5 to 10…