Pure Data Centers secures $2.7B to build AI infrastructure across Europe and the Middle East, backed by Allianz, SMBC, and ABN AMRO.
A London-headquartered data center firm today said it had secured $2.7bn in financing, 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 centers, 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 center campuses. The fresh funds bring in new lenders, SMBC, the Japanese multinational bank, Allianz Global Investors (the investment management arm of Allianz), and Dutch bank ABN AMRO.
Pure DC is investing over €1 billion in a giant data center 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-meter towers, will provide over 1,000 jobs.
There is no firm date on when the data center will be fully operational.
Pure DC, which also operates a data center 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 centers in the Middle East amid the Iran war.
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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.”
