Z Squared to Buy Paradox Data in AI Infrastructure Push

The acquisition centers on the Union County Campus at 713 Industrial Road in El Dorado, Arkansas. Currently, the site holds an 8.0 MW electric service arrangement with Entergy Arkansas and secured land rights for expansion. Z Squared plans to scale this capacity through a mix of utility power and on-site generation, supporting its broader goal of building 100 MW of AI-ready infrastructure across the United States.

Z Squared is financing the acquisition entirely through newly designated Series A Convertible Preferred Stock, avoiding cash outlays or new debt. The $25 million total consideration is heavily weighted toward performance: $5 million is payable at closing, while the remaining $20 million is unlocked only as the campus meets four specific development milestones. These include the initial energization of AI compute capacity and subsequent capacity thresholds of 50 MW, 100 MW, and 150 MW.

To manage the technical build-out, the company has engaged A2 Advisors, a firm specializing in digital infrastructure and capital markets. Z Squared CEO David Halabu described the agreement as a method to ensure acquisition costs remain aligned with physical execution. The transaction is expected to close by September 30, 2026, pending customary conditions and regulatory filings.