# AIDEA's Fiber Tool and NuCube Stake, Cut Open

> AIDEA called two very different things an "investment" on October 21st.

Published 2026-10-28 by Alaska AI. 9 slides.
Canonical: https://alaskaaihq.com/archive/2026-10-28/

## The story

$75 million behind eight locks. $25 million at $9.25 a share.

Eight conditions wrap any deal.

Up to $75 million, all-in, cost overruns and capital calls included. Memoranda and forecasts don't count as customers.

At the core, glass that has to come ashore.

Every investment must deliver fiber pairs or capacity that physically land in Alaska and can be used there. A binding deal must also set a minimum number of landing pairs, with defined capacity and access rights.

Alaska has four subsea cables to the Lower 48. Two date from 1999.

The resolution puts a subsea system's typical design life at about 25 years. None of the systems landing in Alaska connects directly to Asia.

"The routes chosen in the next few years will last for decades."

Same day, $25 million for a reactor company.

AIDEA announced a $25 million equity investment in NuCube Energy. Its NuSun platform is built around a solid-state, heat-pipe-cooled microreactor. AIDEA's release names no Alaska site, utility, customer or deployment date.

The $25 million buys shares, not a reactor.

Class A shares at $9.25, about 14.5 percent under the $10.82 reference price. It counts toward NuCube's $75 million minimum cash to close its merger. NuCube's filing cites AI data center energy demand. The fiber resolution never does.

The two checks, side by side.

Should AIDEA's next equity check carry locks like the fiber money?

## What we verified

- The AIDEA board voted unanimously on October 21st to adopt Resolution G26-11. [Alaska Industrial Development and Export Authority (press release 20-2026)](https://www.aidea.org/Portals/0/PressReleases/20-2026%20PRESS%20RELEASE%20AIDEA%20Board%20Approves%20Investment%20Tool%20to%20Transform%20Alaska%20into%20a%20Global%20Digital%20Hub.pdf?ver=b9pjcH06Wqj8J7ilu3gyZw%3d%3d), primary document, 2026-10-23.
- Resolution G26-11 creates Northstar Fiber Development LLC as a wholly owned AIDEA subsidiary with AIDEA as its sole member. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- Resolution G26-11 caps the subsidiary's capitalization at $75 million. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The resolution authorizes moving up to $75 million out of AIDEA's Revolving Fund to the subsidiary. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- Transfers under the resolution are staged, and until a qualifying investment is approved they are limited to formation, operating and professional services costs. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The $75 million is the aggregate ceiling for all transfers and commitments under the resolution and is not additive. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The resolution treats $75 million as AIDEA's maximum direct and indirect exposure, including capital calls and cost overruns. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- Any commitment must state that AIDEA and the subsidiary have no obligation to fund beyond the committed amount. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- Raising the ceiling or giving any guarantee or debt support requires further board approval. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The authorized investments cover subsea and terrestrial fiber systems, landing stations, backbone and middle-mile networks, and associated capacity. [Alaska Industrial Development and Export Authority (press release 20-2026)](https://www.aidea.org/Portals/0/PressReleases/20-2026%20PRESS%20RELEASE%20AIDEA%20Board%20Approves%20Investment%20Tool%20to%20Transform%20Alaska%20into%20a%20Global%20Digital%20Hub.pdf?ver=b9pjcH06Wqj8J7ilu3gyZw%3d%3d), primary document, 2026-10-23.
- Before any approval or commitment, the executive director must obtain due diligence sized to the investment's size and risk. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- Before any approval or commitment, the executive director must make a written determination that the investment is in the public interest and consistent with the resolution. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- Before any approval or commitment, tax counsel must review the entity and tax structure, including federal, Alaska, foreign and withholding taxes. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- Before any approval or commitment, the chief financial officer, advised by bond counsel, must confirm the investment won't impair AIDEA's bond covenants, pledged revenues, liquidity or custody protections. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The resolution lists Alaska United East as entering service in 1999. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The resolution lists NorthStar as entering service in 1999. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The resolution lists Alaska United West as entering service in 2004. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The resolution lists the ACS Alaska Oregon Network, AKORN, as entering service in 2009. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The resolution states that no entity it references has approved, sponsored, offered or committed to any project. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The subsidiary may hold equity-only stakes without responsibility for building or operating the infrastructure. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The resolution sets the subsidiary's initial priority as improving Pacific fiber connectivity with Alaska. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The resolution says the subsidiary's initial focus is moving Alaska from a data cul-de-sac toward becoming a data hub. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The resolution directs the subsidiary to explore and collaborate on trans-Pacific connectivity with Asia. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The resolution bars any deal involving a party on a US State Department or other federal restricted list. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The resolution does not by itself approve any specific project, route, party or transaction. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- Before approving a project or signing a binding commitment, the executive director must have a finance plan prepared under AS 44.88.173 and 3 AAC 99.510. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The executive director must sign a written certification that the finance plan is complete and that the Section 9 conditions are met. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- Before any commitment the executive director must get written confirmation from external counsel that the investment is within AIDEA's statutory authority. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- Any investment must provide fiber pairs or capacity that physically land in and are available for use in Alaska. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- External counsel must screen every participant and its beneficial owners against the restricted lists, and redo the screen before each funding. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- Under the resolution, memoranda of understanding, expressions of interest and forecasts don't count toward the required binding customer commitments. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- Any binding commitment must keep project-level debt without recourse to AIDEA or the subsidiary. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- AIDEA's funding obligation ends if the project sponsor misses an agreed outside date for its final investment decision. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The executive director must report to the AIDEA board monthly on the subsidiary's activities. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The executive director's power to approve projects and sign binding commitments under the resolution expires on December 31st, 2028 unless the board extends it. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- Citing TeleGeography, the resolution says only four subsea systems connect Alaska to the contiguous United States. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The resolution says Alaska United East and NorthStar entered service in 1999 and have reached the end of their typical design life. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The resolution puts the typical design life of subsea fiber systems at about 25 years. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- AIDEA's release describes Alaska as a digital cul-de-sac where traffic must travel through the Lower 48 to reach the rest of the world. [Alaska Industrial Development and Export Authority (press release 20-2026)](https://www.aidea.org/Portals/0/PressReleases/20-2026%20PRESS%20RELEASE%20AIDEA%20Board%20Approves%20Investment%20Tool%20to%20Transform%20Alaska%20into%20a%20Global%20Digital%20Hub.pdf?ver=b9pjcH06Wqj8J7ilu3gyZw%3d%3d), primary document, 2026-10-23.
- The resolution says MTA's AlCan ONE, Alaska's single all-terrestrial fiber route through Canada, was completed in 2020. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The resolution says none of the subsea systems landing in Alaska connects Alaska directly to Asia. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The resolution states that Alaska was allocated $1,017,139,672.42 under the federal BEAD broadband program. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- AIDEA says $629 million of Alaska's BEAD money has been awarded to 15 providers for 29 projects. [Alaska Industrial Development and Export Authority (press release 20-2026)](https://www.aidea.org/Portals/0/PressReleases/20-2026%20PRESS%20RELEASE%20AIDEA%20Board%20Approves%20Investment%20Tool%20to%20Transform%20Alaska%20into%20a%20Global%20Digital%20Hub.pdf?ver=b9pjcH06Wqj8J7ilu3gyZw%3d%3d), primary document, 2026-10-23.
- AIDEA says the awarded BEAD projects will bring high-speed internet to more than 46,000 Alaska homes and small businesses. [Alaska Industrial Development and Export Authority (press release 20-2026)](https://www.aidea.org/Portals/0/PressReleases/20-2026%20PRESS%20RELEASE%20AIDEA%20Board%20Approves%20Investment%20Tool%20to%20Transform%20Alaska%20into%20a%20Global%20Digital%20Hub.pdf?ver=b9pjcH06Wqj8J7ilu3gyZw%3d%3d), primary document, 2026-10-23.
- AIDEA says roughly 70 percent of BEAD locations are expected to be connected by 2028. [Alaska Industrial Development and Export Authority (press release 20-2026)](https://www.aidea.org/Portals/0/PressReleases/20-2026%20PRESS%20RELEASE%20AIDEA%20Board%20Approves%20Investment%20Tool%20to%20Transform%20Alaska%20into%20a%20Global%20Digital%20Hub.pdf?ver=b9pjcH06Wqj8J7ilu3gyZw%3d%3d), primary document, 2026-10-23.
- Citing an ITU advisory body, the resolution says submarine cables carry over 99 percent of intercontinental data traffic. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The resolution says submarine cables suffer about 150 to 200 faults a year. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The resolution cites a TeleGeography forecast of more than 1,010,000 kilometers of new submarine cable deployed worldwide from 2026 to 2035. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The same TeleGeography forecast, as cited in the resolution, says more than 450,000 kilometers of older cable may be retired over that period. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The resolution says Ted Stevens Anchorage International Airport handled 3,854,614 metric tonnes of cargo in 2025, according to Airports Council International World. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The resolution says aircraft from Anchorage can reach nearly 90 percent of the industrialized world within a single 9.5-hour flight. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The resolution acknowledges that the Copenhagen Economics analyses it cites have not quantified impacts specific to Alaska. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- The text of Resolution G26-11 does not mention artificial intelligence or data centers. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- AIDEA's October 23rd release on the fiber resolution does not mention artificial intelligence or data centers. [Alaska Industrial Development and Export Authority (press release 20-2026)](https://www.aidea.org/Portals/0/PressReleases/20-2026%20PRESS%20RELEASE%20AIDEA%20Board%20Approves%20Investment%20Tool%20to%20Transform%20Alaska%20into%20a%20Global%20Digital%20Hub.pdf?ver=b9pjcH06Wqj8J7ilu3gyZw%3d%3d), primary document, 2026-10-23.
- AIDEA board chair Bill Kendig called the resolution a disciplined tool with clear limits and strong board oversight. [Alaska Industrial Development and Export Authority (press release 20-2026)](https://www.aidea.org/Portals/0/PressReleases/20-2026%20PRESS%20RELEASE%20AIDEA%20Board%20Approves%20Investment%20Tool%20to%20Transform%20Alaska%20into%20a%20Global%20Digital%20Hub.pdf?ver=b9pjcH06Wqj8J7ilu3gyZw%3d%3d), primary document, 2026-10-23.
- AIDEA executive director Randy Ruaro said the routes chosen in the next few years will last for decades. [Alaska Industrial Development and Export Authority (press release 20-2026)](https://www.aidea.org/Portals/0/PressReleases/20-2026%20PRESS%20RELEASE%20AIDEA%20Board%20Approves%20Investment%20Tool%20to%20Transform%20Alaska%20into%20a%20Global%20Digital%20Hub.pdf?ver=b9pjcH06Wqj8J7ilu3gyZw%3d%3d), primary document, 2026-10-23.
- Governor Mike Dunleavy said Alaska has always been at the crossroads of the world. [Alaska Industrial Development and Export Authority (press release 20-2026)](https://www.aidea.org/Portals/0/PressReleases/20-2026%20PRESS%20RELEASE%20AIDEA%20Board%20Approves%20Investment%20Tool%20to%20Transform%20Alaska%20into%20a%20Global%20Digital%20Hub.pdf?ver=b9pjcH06Wqj8J7ilu3gyZw%3d%3d), primary document, 2026-10-23.
- Alaska Broadband Office director Thomas Lochner said the fiber investment helps keep the networks being built today fast, affordable and reliable for decades. [Alaska Industrial Development and Export Authority (press release 20-2026)](https://www.aidea.org/Portals/0/PressReleases/20-2026%20PRESS%20RELEASE%20AIDEA%20Board%20Approves%20Investment%20Tool%20to%20Transform%20Alaska%20into%20a%20Global%20Digital%20Hub.pdf?ver=b9pjcH06Wqj8J7ilu3gyZw%3d%3d), primary document, 2026-10-23.
- AIDEA announced a $25 million equity investment in NuCube Energy on October 21st. [Alaska Industrial Development and Export Authority (press release 19-2026)](https://www.aidea.org/LinkClick.aspx?fileticket=E7LXDrzoAyc%3d&portalid=0), primary document, 2026-10-21.
- AIDEA's NuCube release names data centers among the industries that cheaper, more dependable energy could help. [Alaska Industrial Development and Export Authority (press release 19-2026)](https://www.aidea.org/LinkClick.aspx?fileticket=E7LXDrzoAyc%3d&portalid=0), primary document, 2026-10-21.
- NuCube's NuSun platform is built around a solid-state, heat-pipe-cooled microreactor. [Alaska Industrial Development and Export Authority (press release 19-2026)](https://www.aidea.org/LinkClick.aspx?fileticket=E7LXDrzoAyc%3d&portalid=0), primary document, 2026-10-21.
- AIDEA's $25 million counts toward the $75 million minimum cash condition for closing NuCube's merger with Launch Two Acquisition Corp. [NuCube Energy, Inc. Form 425 filing, US Securities and Exchange Commission EDGAR](https://www.sec.gov/Archives/edgar/data/0002023676/000121390026110814/ea0309104-425_nucube.htm), primary document, 2026-10-19.
- Under the NuCube filing, AIDEA agreed to buy $25 million of Class A ordinary shares at $9.25 per share. [NuCube Energy, Inc. Form 425 filing, US Securities and Exchange Commission EDGAR](https://www.sec.gov/Archives/edgar/data/0002023676/000121390026110814/ea0309104-425_nucube.htm), primary document, 2026-10-19.
- NuCube's filing says the $9.25 price is an approximately 14.5 percent discount to the $10.82 reference price used for the merger exchange ratio. [NuCube Energy, Inc. Form 425 filing, US Securities and Exchange Commission EDGAR](https://www.sec.gov/Archives/edgar/data/0002023676/000121390026110814/ea0309104-425_nucube.htm), primary document, 2026-10-19.
- Each share AIDEA buys comes with one-half of a warrant exercisable at $11.50 within five years. [NuCube Energy, Inc. Form 425 filing, US Securities and Exchange Commission EDGAR](https://www.sec.gov/Archives/edgar/data/0002023676/000121390026110814/ea0309104-425_nucube.htm), primary document, 2026-10-19.
- NuCube's filing describes AIDEA as the anchor investor in the company's current financing. [NuCube Energy, Inc. Form 425 filing, US Securities and Exchange Commission EDGAR](https://www.sec.gov/Archives/edgar/data/0002023676/000121390026110814/ea0309104-425_nucube.htm), primary document, 2026-10-19.
- NuCube's filing mentions AI data center energy demand in its forward-looking statements section. [NuCube Energy, Inc. Form 425 filing, US Securities and Exchange Commission EDGAR](https://www.sec.gov/Archives/edgar/data/0002023676/000121390026110814/ea0309104-425_nucube.htm), primary document, 2026-10-19.
- NuCube was one of four companies selected for the Department of Energy's Nuclear Energy Launch Pad initiative on April 27th. [Alaska Industrial Development and Export Authority (press release 19-2026)](https://www.aidea.org/LinkClick.aspx?fileticket=E7LXDrzoAyc%3d&portalid=0), primary document, 2026-10-21.
- AIDEA's release names Arizona Nuclear Ventures, Emission Reduction Corporation, and Rob Walton and Jordan Rose Walton as other NuCube investors. [Alaska Industrial Development and Export Authority (press release 19-2026)](https://www.aidea.org/LinkClick.aspx?fileticket=E7LXDrzoAyc%3d&portalid=0), primary document, 2026-10-21.
- AIDEA's NuCube release says individual project costs and energy savings will be determined as projects are developed. [Alaska Industrial Development and Export Authority (press release 19-2026)](https://www.aidea.org/LinkClick.aspx?fileticket=E7LXDrzoAyc%3d&portalid=0), primary document, 2026-10-21.
- AIDEA's release says the benefits depend on technology development, regulatory approvals, project financing and work with prospective host communities. [Alaska Industrial Development and Export Authority (press release 19-2026)](https://www.aidea.org/LinkClick.aspx?fileticket=E7LXDrzoAyc%3d&portalid=0), primary document, 2026-10-21.
- AIDEA's NuCube release names no specific Alaska site, community, utility or customer and gives no deployment date. [Alaska Industrial Development and Export Authority (press release 19-2026)](https://www.aidea.org/LinkClick.aspx?fileticket=E7LXDrzoAyc%3d&portalid=0), primary document, 2026-10-21.
- AIDEA's board schedule lists its next meetings on November 4th and December 4th. [Alaska Industrial Development and Export Authority (board meeting schedule)](https://www.aidea.org/About/Board-Members/Board-Meeting-Schedule), primary document, 2026-10-29.
- AIDEA's schedule page lists two resolutions for the October 21st meeting, G26-11 on fiber development and G26-12 on EDA grants. [Alaska Industrial Development and Export Authority (board meeting schedule)](https://www.aidea.org/About/Board-Members/Board-Meeting-Schedule), primary document, 2026-10-29.
- DeepGreen's preliminary permit application describes about 330 to 350 marine hydrokinetic turbines. [Federal Energy Regulatory Commission notice, Federal Register](https://www.federalregister.gov/documents/full_text/text/2026/09/04/2026-18151.txt), primary document, 2026-09-04.
- The DeepGreen application describes 66 modular subsea compute hives, or data center pods. [Federal Energy Regulatory Commission notice, Federal Register](https://www.federalregister.gov/documents/full_text/text/2026/09/04/2026-18151.txt), primary document, 2026-09-04.
- The DeepGreen application describes an approximately 3.5-mile subsea power and fiber cable. [Federal Energy Regulatory Commission notice, Federal Register](https://www.federalregister.gov/documents/full_text/text/2026/09/04/2026-18151.txt), primary document, 2026-09-04.
- The DeepGreen cable is described as a 115 kV line. [Federal Energy Regulatory Commission notice, Federal Register](https://www.federalregister.gov/documents/full_text/text/2026/09/04/2026-18151.txt), primary document, 2026-09-04.
- The DeepGreen cable would land within the Nikiski Industrial Corridor. [Federal Energy Regulatory Commission notice, Federal Register](https://www.federalregister.gov/documents/full_text/text/2026/09/04/2026-18151.txt), primary document, 2026-09-04.
- FERC's notice puts the DeepGreen project's estimated annual generation at 100 megawatts. [Federal Energy Regulatory Commission notice, Federal Register](https://www.federalregister.gov/documents/full_text/text/2026/09/04/2026-18151.txt), primary document, 2026-09-04.
- Comments, motions to intervene and competing applications on the DeepGreen permit are due by 5 p.m. Eastern on November 2nd. [Federal Energy Regulatory Commission notice, Federal Register](https://www.federalregister.gov/documents/full_text/text/2026/09/04/2026-18151.txt), primary document, 2026-09-04.
- The DeepGreen application is FERC Project No. 15423. [Federal Energy Regulatory Commission notice, Federal Register](https://www.federalregister.gov/api/v1/documents/2026-18151.json), primary document, 2026-09-04.
- Section 9 of Resolution G26-11 lists eight items, (a) through (h), that the executive director must obtain before approving a project or committing funds. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- Any binding commitment under the resolution must make AIDEA's funding conditional on at least eight conditions, (i) through (viii). [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- A binding commitment must be conditional on total project cost, backed by executed supply arrangements, staying under an agreed maximum. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- A binding commitment must be conditional on committed sources of money sufficient to pay total project cost. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- A binding commitment must be conditional on a minimum number of fiber pairs, with defined capacity and access rights, physically landing in Alaska. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- A binding commitment must be conditional on binding customer commitments that meet an agreed minimum threshold. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- A binding commitment must be conditional on the required licenses and regulatory reviews. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- A binding commitment must be conditional on an updated finance plan confirming the project remains within the agreed limits. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- Before any approval or commitment, AIDEA's chief financial officer or a designee must confirm that funds are available and how they will be accounted for. [Alaska Industrial Development and Export Authority (signed Resolution G26-11)](https://www.aidea.org/Portals/0/Meeting%20Docs/2026BoardMeetings/102126/Signed_Resolution_G26-11_Fiber_Development_10212026.pdf?ver=V4Q7HnmpQvAhYXmlSR_5pw%3d%3d), primary document, 2026-10-21.
- Columnist Dermot Cole wrote that the state provided no background research and no information about how NuCube was selected. [Dermot Cole, Reporting from Alaska](https://www.dermotcole.com/reportingfromalaska/2026/10/22/aidea-diverts-25-million-to-idaho-nuclear-research-company), report, 2026-10-22.
- Kenai Peninsula Borough Mayor Peter Micciche called DeepGreen's approach sloppy. [Alaska's News Source (KTUU)](https://www.alaskasnewssource.com/2026/10/28/sloppy-is-way-i-would-describe-this-approach-unknown-plans-an-underwater-data-center-cook-inlet/), report, 2026-10-28.
- Micciche says DeepGreen hasn't contacted him by email, letter or phone. [Alaska's News Source (KTUU)](https://www.alaskasnewssource.com/2026/10/28/sloppy-is-way-i-would-describe-this-approach-unknown-plans-an-underwater-data-center-cook-inlet/), report, 2026-10-28.
- Kenai Peninsula Borough officials plan to push state lawmakers this session to craft formal oversight guidelines for emerging commercial technologies on public lands and waters. [Alaska's News Source (KTUU)](https://www.alaskasnewssource.com/2026/10/28/sloppy-is-way-i-would-describe-this-approach-unknown-plans-an-underwater-data-center-cook-inlet/), report, 2026-10-28.
- In a FERC answer filed Tuesday, DeepGreen said the objections rest on a fundamental misconception. [Alaska's News Source (KTUU)](https://www.alaskasnewssource.com/2026/10/28/sloppy-is-way-i-would-describe-this-approach-unknown-plans-an-underwater-data-center-cook-inlet/), report, 2026-10-28.
- DeepGreen told FERC that a preliminary permit doesn't authorize an applicant to disturb the seabed. [Alaska's News Source (KTUU)](https://www.alaskasnewssource.com/2026/10/28/sloppy-is-way-i-would-describe-this-approach-unknown-plans-an-underwater-data-center-cook-inlet/), report, 2026-10-28.
- DeepGreen's Louis Wolfson wrote that contacting borough officials before knowing whether the engineering and biology work would be putting the cart before the horse. [Alaska's News Source (KTUU)](https://www.alaskasnewssource.com/2026/10/28/sloppy-is-way-i-would-describe-this-approach-unknown-plans-an-underwater-data-center-cook-inlet/), report, 2026-10-28.
- KTUU reported NOAA's count of about 300 beluga whales living in the Cook Inlet area. [Alaska's News Source (KTUU)](https://www.alaskasnewssource.com/2026/10/28/sloppy-is-way-i-would-describe-this-approach-unknown-plans-an-underwater-data-center-cook-inlet/), report, 2026-10-28.
- Anchorage Assembly member Sydney Scout said members spent three hours getting through about one and a half amendments. [Anchorage Daily News](https://www.adn.com/alaska-news/anchorage/2026/10/26/anchorage-assembly-delays-vote-on-reformed-surveillance-rules/), report, 2026-10-26.
- The surveillance ordinance was discussed at the Anchorage Assembly's October 20th meeting, where members made little headway. [Anchorage Daily News](https://www.adn.com/alaska-news/anchorage/2026/10/26/anchorage-assembly-delays-vote-on-reformed-surveillance-rules/), report, 2026-10-26.
- An effort to extend the Assembly meeting to keep discussing the surveillance proposal failed for lack of support. [Anchorage Daily News](https://www.adn.com/alaska-news/anchorage/2026/10/26/anchorage-assembly-delays-vote-on-reformed-surveillance-rules/), report, 2026-10-26.
- Assembly members scrambled to wrap up the night's business by 11 p.m. [Anchorage Daily News](https://www.adn.com/alaska-news/anchorage/2026/10/26/anchorage-assembly-delays-vote-on-reformed-surveillance-rules/), report, 2026-10-26.
- The surveillance ordinance is set to return on the Assembly's November 4th agenda. [Anchorage Daily News](https://www.adn.com/alaska-news/anchorage/2026/10/26/anchorage-assembly-delays-vote-on-reformed-surveillance-rules/), report, 2026-10-26.
- The original surveillance ordinance was sponsored by Vice Chair Daniel Volland, Sydney Scout and Keith McCormick. [Anchorage Daily News](https://www.adn.com/alaska-news/anchorage/2026/10/26/anchorage-assembly-delays-vote-on-reformed-surveillance-rules/), report, 2026-10-26.
- A substitute version from Mayor Suzanne LaFrance's administration is co-sponsored by Assembly members Yarrow Silvers and Jared Goecker. [Anchorage Daily News](https://www.adn.com/alaska-news/anchorage/2026/10/26/anchorage-assembly-delays-vote-on-reformed-surveillance-rules/), report, 2026-10-26.
- Police Chief Sean Case argued the original version could hamper the department's ability to adapt to technologies like license plate readers and commercial AI products. [Anchorage Daily News](https://www.adn.com/alaska-news/anchorage/2026/10/26/anchorage-assembly-delays-vote-on-reformed-surveillance-rules/), report, 2026-10-26.
- The proposal would codify surveillance restrictions in municipal code, including penalties if police violate them. [Anchorage Daily News](https://www.adn.com/alaska-news/anchorage/2026/10/26/anchorage-assembly-delays-vote-on-reformed-surveillance-rules/), report, 2026-10-26.

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