AustralianSuper Leads $2 Billion Investment in DataBank for AI-Driven Data Center Expansion

Australian pension fund leads $2 billion DataBank raising amid AI frenzy

(Reuters) -U.S.-based data center developer DataBank has raised nearly A$3 billion ($2.01 billion) in a bid to build three planned facilities across the United States, with pension fund AustralianSuper leading the raise. AustralianSuper, the country's largest pension fund, on Wednesday said it had committed A$2.2 billion to DataBank's raising and would emerge as a minority owner of the U.S.-based firm. The pension fund would also appoint a company's board director. The raising is the latest sign of growing investor appetite in artificial intelligence, which in turn has resulted in a boost for data centre proposals. "Our investment in DataBank comes at an exciting time in its growth trajectory with strong tailwinds across the sector, coupled with DataBank's ambitious expansion program and diverse business base," said Derek Chu, head of American Real Assets at AustralianSuper Deals in the data centre space have increased globally due to the growing popularity of AI with Blackstone's A$24 billion acquisition of Australian AirTrunk in the spotlight. The AI frenzy, which has fuelled the rise of tech stocks across the world, has created a need to build physical centers to support the storage of data. Global investors and asset managers have leveraged the high demand for digital infrastructure to reap profits by putting their money into the development of centres. Southeast Asian countries have been particularly attractive given their strong growth potential, cheap labour and land. DataBank's controlling investor, DigitalBridge, which appoints a majority of the company's board, also participated in the raising. DataBank is planning to build three facilities in data centre areas: a 120-megawatt campus in Atlanta, a 480-megawatt campus in south Dallas and a 192-megawatt campus in Culpeper, Virginia. Not a newcomer in the market, AustralianSuper had invested A$2.5 billion in a major European data centre business last year, alongside DigitalBridge.

Australian pension fund leads $2 bln DataBank raising amid AI frenzy

Oct 16 (Reuters) - U.S.-based data center developer DataBank has raised nearly A$3 billion ($2.01 billion) in a bid to build three planned facilities across the United States, with pension fund AustralianSuper leading the raise. AustralianSuper, the country's largest pension fund, on Wednesday said it had committed A$2.2 billion to DataBank's raising and would emerge as a minority owner of the U.S.-based firm. The pension fund would also appoint a company's board director. Advertisement · Scroll to continue The raising is the latest sign of growing investor appetite in artificial intelligence, which in turn has resulted in a boost for data centre proposals. Deals in the data centre space have increased globally due to the growing popularity of AI with Blackstone's (BX.N), opens new tab A$24 billion acquisition of Australian AirTrunk in the spotlight. DataBank's controlling investor, DigitalBridge (DBRG.N), opens new tab, which appoints a majority of the company's board, also participated in the raising. Advertisement · Scroll to continue ($1 = 1.4916 Australian dollars) Reporting by Sneha Kumar; Editing by Alan Barona Our Standards: The Thomson Reuters Trust Principles., opens new tab

AI Boom Sparks $2 Billion Bet on DataBank Led by Australian Pension Fund

Data center developer DataBank has raised $2 billion to build three facilities planned across the US, the latest sign of superheated investor interest in artificial intelligence. AustralianSuper, the country's largest pension fund, led the raise with $1.5 billion. It will become a minority owner of DataBank and appoint a director to the company's board. DigitalBridge, which also participated in the raise, is already DataBank's control investor and appoints the majority of the company's board of directors.

AustralianSuper pours $2.2b into US data centre firm amid AI fever

Gift 5 articles to anyone you choose each month when you subscribe. Data centre developer DataBank has raised $US2 billion to build three facilities planned across the US, the latest sign of superheated investor interest in artificial intelligence. Super giant AustralianSuper led the raise with $US1.5 billion ($2.2 billion). It will become a minority owner of DataBank and appoint a director to the company's board. DigitalBridge, which also participated in the raise, is already DataBank's control investor and appoints the majority of the company's board of directors.