OpenWorld, Inc. (NASDAQ: OPNW) announced on October 15, 2026, that it has entered into a non-binding term sheet with Meridian, a privately held Delaware limited liability company. The agreement outlines a tokenized financing program with a potential value of up to $1 billion. The funds are intended to support the purchase and deployment of a distributed artificial-intelligence computing network powered by on-site solar energy and Tesla Powerwall battery storage.
Under the proposed structure, OpenWorld will serve as the advisor, structuring agent, and services provider. The company’s OpenWorld Enterprise platform will be used to finance and operate the orchestration of the network. Meridian holds the purchase rights to the residential battery storage systems and will own the storage assets within the program.
The initial deployment plan targets 10,000 homes, with compute nodes installed at participating residences. Larger installations are also planned for local schools, hospitals, and commercial campuses. The program aims to supply computing capacity to one or more leading AI inference providers without requiring new centralized data centers, additional grid interconnections, or water-based cooling.
Participating homeowners are expected to receive monthly hosting payments and lower-cost electricity, with household energy needs prioritized over computing workloads. Commercial hosts would receive a share of site revenue and backup power. The company stated that initial installations are scheduled to begin in the fourth quarter of 2026, with the first commercial site targeted for the first quarter of 2027.
Meridian was founded by Josh Raffaelli, who has experience in Tesla, Solar City, and SpaceX through his work with DFJ and Silver Lake. The term sheet is non-binding, except for specific provisions, and the transaction remains subject to confirmatory due diligence, negotiation of definitive documentation, and satisfaction of applicable conditions.
