AustralianSuper is investing $2.2 billion into a US data centre company called DataBank.
👉 Background: AustralianSuper is an industry super fund with over $340 billion of Aussie retirement savings under management. In fact, it's the largest super fund in Australia with over 3.4 million members and the sixteenth largest pension fund in the world.
👉 What happened: Now, AusSuper is investing $2.2 billion into a US data centre company called DataBank. This is their first move into the US data centre market as the rush to invest in AI heats up.
👉 What else: DataBank already has more than 65 data centres in 27 markets, and plans to use AustralianSuper’s money to finance new sites. Now, this deal enables Aus Super to get involved in the wild demand for cloud and AI infrastructure.
💡Competition to invest in data centres is reaching its zenith.
💡It’s fair to say we are witnessing a market that is desperate to get exposure to AI technology. As a result, Aus Super is going all in. But this isn't their first shot at a data centre investment. AustralianSuper bought a minority stake in another company named Vantage Data Centers for $2.5 billion.
💡And it’s not just Aus Super in the hunt. Many large investment firms are now hyper focused on AI data centres. So, when demand is up and supply is limited.. you know what happens to valuations!
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