A London-headquartered data centre firm today said it had secured $2.7bn in financing, with the funds earmarked to expand across Europe and the Middle East amid soaring AI workload demands.
Pure Data Centres (Pure DC), which is backed by Oaktree Capital, purchases land to build data centres, which are then leased out to hyperscalers to run AI and cloud workloads.
Hyperscalers include the likes of Microsoft, Google and Amazon.
A big chunk of the $2.7bn loan was secured against Pure DC’s Dublin and Amsterdam data centre campuses. The fresh funds brings in new lenders SMBC, the Japanese multinational bank, German bank Allianz and Dutch bank ABN AMRO.
Pure DC is investing over €1 billion in a giant data centre campus, which will support AI workloads, in Amsterdam.
The 78MW campus is fully leased to Microsoft, according to Dutch media.
It says the site, which comprises three 85-metere towers, will provide over 1,000 jobs.
There is no firm date on when the data centre will be fully operational.
Pure DC, which also operates a data centre in Abu Dhabi, is looking to expand its presence in the Middle East, which it believes is a key AI growth market.
However last month, Pure DC told CNBC that it paused investment in AI infrastructure projects and data centres in the Middle East amid the Iran war.
Pure DC CEO Gary Wojtaszek said: "Over the past 12 months, we have materially strengthened and diversified our financing platform, bringing in high-quality institutional partners and increasing available capital.
"The successful syndication of the $2.15 billion facility and the expansion of our corporate facility demonstrate both the depth of market demand and the confidence lenders have in our assets, structure and strategy."
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