Z Squared Inc. CEO David Halabu Discusses AI Data Center Strategy on Two Investor Podcasts

Z Squared details its all-stock Paradox Data deal and outlines a scalable, landlord-focused AI data center model anchored by the Union County Campus.

Rhea-AI Summary

Z Squared (ZSQR) highlighted its AI data center strategy and Paradox Data acquisition through two investor podcasts now available online. CEO David Halabu explained that Z Squared acquires existing powered sites, such as former crypto mining and manufacturing facilities, and retrofits them for AI and high-performance computing, operating as a triple-net landlord rather than a compute provider. The company emphasized its flagship Union County Campus in El Dorado, Arkansas, acquired via a 100% all-stock purchase of Paradox Data, with no cash paid at closing and no debt financing.

The campus currently has an energy service arrangement with Entergy Arkansas for up to 8.0 MW and roughly six megawatts of critical capacity, with a staged development pathway targeting up to 150 MW over time through utility power and on-site generation. Z Squared plans to lease land, buildings and power access primarily to “neocloud” and enterprise AI tenants, treating power as a pass-through, and asked shareholders to evaluate progress over the next 12–18 months based on megawatts under management and signed leases.

Positive

• Paradox Data acquisition completed on an all-stock basis with no cash paid at closing and no debt financing
• Union County Campus has an energy arrangement for up to 8.0 MW and about six megawatts of critical capacity today
• Development pathway at Union County Campus targets up to 150 MW of capacity over time via utility and on-site generation
• Z Squared plans a triple-net landlord model leasing land, buildings and power access without buying or leasing GPUs

Negative

• Monetization of the first 6–8 MW is only described as hopeful for the early-to-mid 2027 timeframe
• Expansion toward 150 MW depends on utility timelines and customer demand, introducing execution uncertainty

News Explained

The September 18, 2026 release adds one conditional milestone: Z Squared says it is hopeful of monetizing the Union County Campus’s first six to eight megawatts in early-to-mid 2027, subject to utility timelines and customer demand, so that capacity is not presented as monetized today.

Key Figures

Shareholder measurement period: 12 to 18 months Acquired ownership: 100% Closing consideration: No cash; no debt financing +5 more

Shareholder measurement period

12 to 18 months

Management asked shareholders to evaluate megawatts under management and signed leases

Acquired ownership

100%

Paradox Data membership interests

Closing consideration

No cash; no debt financing

Paradox Data acquisition

Existing energy service

Up to 8.0 MW

Union County Campus arrangement with Entergy Arkansas

Critical capacity

6 MW

Union County Campus capacity available today

Development pathway

Up to 150 MW

Targeted capacity through utility power and on-site generation

Initial monetization capacity

6 to 8 MW

First capacity management said could be monetized

Monetization timeframe

Early-to-mid 2027

Expected timeframe for monetizing the first 6 to 8 MW

Key Terms

triple-net landlord, high-performance computing, behind-the-meter generation, membership interests

4 terms

triple-net landlord financial

"described the Company's role as a triple-net landlord"

A triple-net landlord owns property leased under a triple-net (NNN) lease in which the tenant is contractually responsible for property taxes, insurance and most maintenance and operating expenses, leaving the landlord to collect rent with minimal day-to-day obligations. This matters to investors because it generally produces more predictable, lower-maintenance cash flow for the owner—like receiving rent while the tenant pays the bills—which affects income stability, risk and valuation of real-estate investments.

high-performance computing technical

"retrofits them for AI and high-performance computing use"

A cluster of very powerful computers, special chips and fast networks designed to tackle huge, complex calculations far faster than a normal PC — like replacing a single delivery van with a synchronized fleet to move a city’s worth of packages. For investors, high-performance computing matters because it enables faster product development, more accurate simulations and data analysis, and new revenue streams for hardware, software and services, making firms that supply or use it potentially more competitive and scalable.

behind-the-meter generation technical

"addressed the expanding role of behind-the-meter generation"

Behind-the-meter generation is electricity produced on the customer side of the utility meter—for example, rooftop solar panels or a battery system that powers a building directly. It matters to investors because it reduces the amount of power customers buy from utilities, can lower operating costs for businesses, change revenue patterns for energy companies, and shift investment and regulatory risk; think of it like a household growing its own food instead of buying groceries.

membership interests financial

"acquired 100% of the membership interests of Paradox Data, LLC"

An ownership stake in a limited liability company (LLC) that represents a holder’s share of the business’s profits, losses, and decision-making power. Think of it like a slice of the company’s pie and a seat at its management table: it determines how much money the owner can receive and how much influence they have over company choices. Investors care because these interests affect returns, control, transferability, and tax treatment.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Both Interviews Are Live Now and Available Through the Company's Website and Major Podcast Platforms

FORT LAUDERDALE, Fla., Sept. 18, 2026 /PRNewswire/ -- Z Squared Inc. (Nasdaq: ZSQR) ("Z Squared" or the "Company"), a computing infrastructure company expanding into AI infrastructure, today announced that David Halabu, Chief Executive Officer, was recently featured on two investor podcasts: The Wall Street Resource, hosted by Jeff Kone, and The Nano Cap Podcast, hosted by Will Tjernlund. Both interviews are live now.

Speaking with Jeff Kone on The Wall Street Resource, Mr. Halabu outlined how Z Squared acquires existing powered sites - former crypto mining and manufacturing facilities - and retrofits them for AI and high-performance computing use. He described the Company's role as a triple-net landlord, positioned the Union County Campus in Arkansas as its flagship asset, and reiterated the two measures he has asked shareholders to hold the Company to over the next 12 to 18 months: megawatts under management and signed leases.

Speaking with Will Tjernlund on The Nano Cap Podcast, Mr. Halabu traced his background in trading and real estate and the Company's path to the public markets, and detailed the criteria Z Squared applies to a prospective site - price, power and time to power, redundant fiber, water, and county and municipal support. He also addressed the expanding role of behind-the-meter generation as utility interconnection timelines lengthen, and why he expects land and power to remain scarce as AI compute demand grows.

"These conversations were a chance to be direct about what we are building and how it generates revenue," said David Halabu, Chief Executive Officer of Z Squared. "We find power, deliver a shell an AI tenant can use, and grow the site behind it. Over the next 12 to 18 months, measure us on megawatts and leases."

The full interviews can be found via the following links:

The Wall Street Resource (Jeff Kone): Here

The Nano Cap Podcast (Will Tjernlund): Here

Both interviews touched on the Company's previously announced acquisition of Paradox Data, LLC and the Union County Campus it brought with it. Set out below are the questions investors have most frequently raised about that transaction.

What did Z Squared acquire?

Z Squared acquired 100% of the membership interests of Paradox Data, LLC, whose flagship asset is the Union County Campus in El Dorado, Arkansas. The transaction closed on an all-stock basis - no cash at closing and no debt financing.

How much power does the Union County Campus have today, and how does it scale?

The campus has an existing arrangement with Entergy Arkansas for energy service of up to 8.0 MW, plus an executed contract for adjacent land. On The Wall Street Resource, Mr. Halabu described roughly eight megawatts of total capacity and six megawatts of critical capacity available today. The development pathway targets up to 150 MW over time through a combination of utility power and on-site generation, added in phases as utility timelines and customer demand allow.

How does Z Squared expect to generate revenue from the campus?

Z Squared intends to operate as a triple-net landlord, not a compute provider: it expects to lease the land, the building and access to power to tenants - primarily "neocloud" and enterprise AI users - with power treated as a pass-through, and does not intend to buy or lease GPUs. Mr. Halabu said he is hopeful the first six to eight megawatts can be monetized in the early-to-mid 2027 timeframe, subject to the factors described under "Forward-Looking Statements" below.

About Z Squared Inc.

Z Squared Inc. is a computing infrastructure company operating advanced computing equipment and expanding into AI infrastructure. The Company's strategy is built on three principles: lead with power by acquiring operating sites where power is already flowing; build for AI workloads by converting that capacity into AI-ready colocation where the customer brings the compute and runs what they need; and scale with discipline by deploying conversion capital site by site, against signed contracts and operational readiness. Z Squared's common stock began trading on the Nasdaq Global Market under the symbol "ZSQR" in April 2026.

For more information, visit www.zsquaredinc.com. 

Investor Relations Contact: ZSQR@mzgroup.us 

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "may," "will," "should," "expects," "plans," "anticipates," "intends," "targets," "projects," "believes," "estimates," "potential" or "continue," or the negatives of these terms or other comparable terminology. Forward-looking statements in this press release include, among others, statements made by management in the podcast interviews described above and statements regarding: the achievement of the development milestones at the Union County Campus and the issuance of the related preferred stock; the development of the Union County Campus, including the targeted capacity of up to 150 MW; the availability and expansion of utility power and on-site generation; the acquisition of adjacent land; the timing of tenant leasing and the monetization of initial capacity at the Union County Campus; and the Company's strategy and planned expansion into AI infrastructure, data center development and power generation.

Forward-looking statements are based on management's current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied, including, among others: the Company's ability to continue as a going concern; the risk that the development milestones are not achieved in whole or in part; risks related to the availability, cost and interruptible nature of electric power at the Union County Campus and the Company's ability to secure additional utility power and on-site generation; risks related to the pending transfer of the utility account for the Union County Campus and the completion of related post-closing arrangements contemplated by the transaction agreements; risks related to permitting, construction, equipment procurement and the development of data center capacity; customer demand for AI-ready capacity; dilution resulting from the issuance and conversion of the preferred stock issued in the transaction; volatility in digital asset prices and the economics of the Company's mining operations; and the other risks and uncertainties described under "Risk Factors" in the Company's filings with the Securities and Exchange Commission, available at www.sec.gov.

Forward-looking statements speak only as of the date of this press release. Except as may be required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. You should not place undue reliance on any forward-looking statement.

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SOURCE Z Squared Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Where can investors access the Z Squared CEO podcast interviews?

Both interviews featuring CEO David Halabu, one on The Wall Street Resource hosted by Jeff Kone and one on The Nano Cap Podcast hosted by Will Tjernlund, are live and available through Z Squared’s website and major podcast platforms.

What exactly did Z Squared acquire in the Paradox Data transaction?

Z Squared acquired 100% of the membership interests of Paradox Data, LLC, whose flagship asset is the Union County Campus in El Dorado, Arkansas. The transaction closed on an all-stock basis, with no cash paid at closing and no debt financing.

How does Z Squared plan to generate revenue from the Union County Campus?

Z Squared intends to act as a triple-net landlord, leasing the land, the building and access to power to tenants, primarily “neocloud” and enterprise AI users. Power is expected to be treated as a pass-through, and the company does not intend to buy or lease GPUs.

What is the current and potential power capacity at the Union County Campus?

The Union County Campus has an existing arrangement with Entergy Arkansas for energy service of up to 8.0 MW, with roughly eight megawatts of total capacity and about six megawatts of critical capacity available today. The development plan targets up to 150 MW over time, using a combination of utility power and on-site generation added in phases as utility timelines and customer demand allow.

What key metrics did Z Squared’s CEO ask shareholders to use when evaluating progress?

David Halabu asked shareholders to measure Z Squared over the next 12 to 18 months based on two primary metrics: megawatts under management and signed leases.

What criteria does Z Squared use when evaluating new AI data center sites?

For prospective sites, Z Squared focuses on price, power and time to power, redundant fiber, water, and support from county and municipal authorities. The company also discussed the growing importance of behind-the-meter generation as utility interconnection timelines lengthen.

Which types of tenants is Z Squared targeting for the Union County Campus?

Z Squared expects its tenants at the Union County Campus to be primarily “neocloud” providers and enterprise AI users, to whom it plans to lease land, buildings and power access.