Related Aims to Raise Up to $8 Billion for AI Data-Center Bet
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New York property developer Related Cos., known for its work building Hudson Yards, is betting big on demand for data centers with a new business to invest in the infrastructure for artificial intelligence and hyperscale technology firms.
Related is seeking to raise as much as $8 billion in capital for the venture called Related Digital, according to a statement Thursday. Morgan Stanley is advising on the first phase of that work, with initial capital expected to be committed in the second half of the year.