financetom
Business
financetom
/
Business
/
Australian pension fund leads $2 bln DataBank raising amid AI frenzy
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Australian pension fund leads $2 bln DataBank raising amid AI frenzy
Oct 17, 2024 1:10 PM

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.

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 A$24

billion acquisition of Australian AirTrunk in the spotlight.

DataBank's controlling investor, DigitalBridge ( DBRG/PJ ),

which appoints a majority of the company's board, also

participated in the raising.

($1 = 1.4916 Australian dollars)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved