STOCKS | Base Power Raises $1 Billion to Build Home Battery Network for AI Power Demand

Base Power, founded by Michael Dell's son Zach Dell, is building a distributed power network by installing thousands of battery systems in U.S. homes to meet surging AI-driven electricity demand. According to Sina Finance, the company recently completed a $1 billion funding round and was valued at $13 billion. Base Power operates as a retail electricity supplier in deregulated markets such as Texas and as a supplier to utilities in regulated markets, using batteries to help stabilize the grid. It charges households up to $650 to install a 39.2-kWh battery system and collects a monthly fee like a traditional retail power provider. The company said it has deployed about 25,000 battery systems and has partnerships with utilities in Texas and Illinois. Its Austin battery factory has an annual capacity of 3 GWh, produces 300 battery systems per shift, and the company plans to open a new factory in the Austin suburbs later this year. Zach Dell said his goal is to become one of the world's largest and fastest-growing power developers. He said the world's largest company in 10 years will likely be a power company, and Base Power is preparing to become that company. Dell and mechanical engineer Justin Lopas, who previously held manufacturing leadership roles at SpaceX and Anduril Industries, co-founded the company in 2023. Lopas said the company is focused on expansion for now and has not set a profit target. Base Power is also benefiting from the boom in data center construction, while Dell Technologies expects AI server sales to reach $60 billion in the fiscal year ending January 2027.