New Energy
AI Boom Sparks $2 Billion Bet on DataBank Led by Australian Pension Fund
The data center developer’s push to build out three large US facilities is being backed by AustralianSuper and DigitalBridge.
A DataBank data center location in Ashburn, Virginia.
Photographer: Moriah Ratner/BloombergThis article is for subscribers only.
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.