In this regular update, RCR Wireless News highlights the top news and developments impacting the booming AI infrastructure sector.
Related Companies accelerates push into data centers with capitalization of Related Digital to fuel its $45 billion pipeline
Real estate company Related Companies announced the formal launch and capitalization of Related Digital, a vertically integrated data center development and investment platform. With a near-term $45 billion development pipeline, Related Digital said it will deliver digital infrastructure solutions for artificial intelligence (AI) and cloud hyperscale technology companies.
Related Digital is investing a minimum of $500 million in initial sponsor commitments toward the buildout of its development pipeline, To fuel its continued growth, Related Digital is also launching a multi-phase capital-raising effort to unlock up to $8 billion in private capital. Morgan Stanley is advising on the first phase of the platform’s capital formation efforts, with initial capital to be committed starting in the second half of 2025.
Related Digital’s first North American data center project, located in Ontario, Canada, is a pre-leased 64-megawatt (MW) data center expansion that will be delivered to a leading hyperscale customer beginning this summer. The firm has a robust data center development pipeline of more than 5 gigawatts (GW) of near-term power across the United States and Canada.
Upper90 closes $225 million credit facility to Crusoe to expand AI cloud infrastructure
Upper90 Capital Management, an asset-backed private credit firm, announced the closing of an approximately $225 million credit facility for Crusoe, an integrated AI infrastructure provider. The investment will be used to support the expansion of Crusoe Cloud, the company’s scalable cloud platform purpose-built for enterprise AI workloads.
The financing will be used exclusively for the purchase of NVIDIA GPUs and supporting cloud infrastructure. This latest round builds on Crusoe’s momentum following its $600 million Series D funding announced in December.
Scala secures $31.3 million credit line from Brazilian development bank BNDES
Brazilian data center company Scala has secured a new line of credit from Brazil’s development bank BNDES.
The financial entity announced it had approved the contracting of a credit limit, initially worth R$180 million ($31.3 million), for Scala Data Centers to invest in the acquisition and installation of equipment and materials for the expansion of its data centers.
Through the BNDES financing, Scala will acquire a comprehensive portfolio of resources, including advanced machinery, industrial systems, IT and automation equipment and domestically manufactured components.
SUNeVision starts construction of second phase of its mega campus in Hong Kong
SUNeVision, the technology arm of Sun Hung Kai Properties, has announced it has started the construction of Phase II of its “Mega Campus” in Hong Kong.
Located in Tseung Kwan O, Phase II will add 350,000 sq ft to the existing facility, with completion scheduled for 2026/2027.
Phase I of the ‘Mega Campus’ was launched last year, delivering approximately 50MW of capacity across 500,000 sq ft.
Upon completion of the three phases, the facility will offer more than 180MW of power capacity across 1.2 million sq ft. Total investment in SUNeVision’s “Mega Campus” has exceeded HK$15 billion ($1.9bn). Including the “Mega Campus,” SUNeVision operates eight data centers across Hong Kong.
Why these announcements matter?
The AI data center industry continues to attract massive investments and expansions worldwide. Related Companies announced its entry into the sector with Related Digital, committing $500 million in initial capital and targeting a $45 billion development pipeline. Crusoe secured a $225 million credit facility from Upper90 to expand its AI cloud infrastructure with NVIDIA GPUs. In Latin America, Scala obtained a $31.3 million credit line from Brazil’s BNDES to scale its data centers. Meanwhile, in Asia, SUNeVision has begun Phase II of its Hong Kong “Mega Campus,” adding 350,000 sq ft and further strengthening its regional presence.
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