Data center in Red Cedar, Wisconsin, could be $1.6bn investment
Balloonist LLC has revealed that a potential data center project in Red Cedar, Dunn County, Wisconsin, could see as much as $1.6 billion invested. The Menomonie City Council has already approved the annexation and rezoning of 324 acres for the site, though construction wouldn’t begin until at least 2027.
While no official plans have been filed yet, a concept site plan shows up to 15 buildings/equipment yards could be developed, with the project expected to create 50–75 full-time jobs. According to council member Abigail Pickard, Balloonist LLC’s end user is “one of the top tech giants.”
Kenya’s iXAfrica secures financing for 20MW expansion to data center
Kenya’s iXAfrica has secured financing from Rand Merchant Bank (RMB) to expand its NBOX1 data center in Nairobi by 20MW, bringing the facility’s total planned capacity to 22.5MW. The multi-tranche funding will support significant growth for the 17,300 sqm site on Mombasa Road, which currently offers colocation space and employs adiabatic cooling.
Backed by a $50m investment from Helios, iXAfrica is also preparing for future expansion with the purchase of 11 acres for a second Nairobi campus. RMB, a division of FirstRand Bank, has previously financed major African players including WIOCC’s Open Access Data Centers and Africa Data Centres.
JPMorgan Chase and Mitsubishi UFJ lead $38bn debt package for Oracle-linked data centers – report
JPMorgan Chase & Co. and Mitsubishi UFJ Financial Group are spearheading a massive $38 billion debt package to finance data centers tied to Oracle, according to Bloomberg. The funding will support developments in Wisconsin and Texas, led by Vantage Data Centers, which will provide capacity for Oracle’s deal with OpenAI.
In Texas, banks have already committed to a $23 billion loan for the planned Frontier campus in Shackelford County, set to begin construction later this year. Meanwhile, Vantage has applied for a 1.3GW grid connection for its Port Washington, Wisconsin, campus, which could eventually expand to 3.5GW across 1,900 acres. Sources told Bloomberg that preliminary debt pricing is about 2.5 percentage points above the US benchmark.
250MW off-grid data center campus planned for Gibraltar
Pelagos Data Centres has announced a 250MW off-grid data center campus in Gibraltar — the territory’s largest-ever project by value at £1.8 billion ($2.24bn). Built in five phases on a 20,000 sqm site near the Port of Gibraltar, the first stage is set to go live in late 2027, with new phases rolling out every 18 months. Backed by the Government of Gibraltar and fully funded through private investment, the facility will run independently of the local grid, powered by renewables and LNG.
“The scale of this project marks a new chapter for Gibraltar and for Europe’s digital capabilities… With our new facility, Pelagos Data Centres is laying the foundation for the next era of AI-driven innovation,” said Konstantin Sokolov, chairman of Pelagos Data Centres. Chief Minister Fabian Picardo added: “I am delighted that Pelagos Data Centres has decided that Gibraltar is the place to establish their first facility and that the whole community will benefit from their massive investment and its huge economic impact.”
Khazna Data Centers bags $2.6bn bank financing
UAE-based Khazna Data Centers has secured $2.62 billion in bank financing from Abu Dhabi Commercial Bank (ADCB) and First Abu Dhabi Bank to accelerate its data center build-out across the Middle East and North Africa. The deal is described as one of the largest financing packages ever seen in the region.
“The criticality of our work is highlighted by the expanding scale, scope, and sophistication required to support complex, resource-intensive AI workloads,” said Fabio Cattaneo, CFO at Khazna. The company, backed by G42, currently operates 30 data centers across the UAE, is building two new 60MW facilities in Masdar, and recently expanded into Egypt.
Keppel DC REIT acquires remaining stakes of two data centres in Singapore
Keppel DC REIT has acquired the remaining 51% stake in Memphis 1 from sponsor Keppel for up to S$8.4 million (US$6.5m), gaining full ownership of Keppel DC Singapore 7 and 8. The deal, completed via a call option, includes around S$6.6 million paid upfront, with up to S$1.8 million more contingent on securing a ten-year lease extension.
Valuations place the two AI-ready hyperscale facilities at an average of S$1.055 billion. The REIT, which now manages 24 data centers across 10 countries, said the acquisition will not materially impact its net asset value or DPU. In the first half of 2025, its DPU rose 12.8% year-on-year to S$0.05133, supported by acquisitions and contract renewals.
Plans filed for 10-building data center campus outside Richmond, Virginia
Real estate firm HHHunt has submitted plans to Hanover County for a 10-building data center campus outside Richmond, Virginia. The proposed Hunting Hawk Technology Park would span 400 acres and 3.9 million sq ft, with marketing materials suggesting the site could support up to 900MW of capacity.
Originally intended for a residential development, the land was pivoted to data center use after a 2019 legal setback. “The technology park just makes sense from our perspective… You’ve seen a lot of uptick in need for technology parks, and this area is well-located with the power that’s there,” said Jonathan Ridout, VP of HHHunt Communities. An end-user has not yet been secured.
Kazakhstan telco to construct 100MW data center with Chinese energy firm
Kazakhtelecom has partnered with China Energy Overseas Investment to develop a 100MW data center in Kazakhstan, with the first 20MW phase set to begin construction next year. The deal was signed during President Kassym-Jomart Tokayev’s visit to Beijing at the China-Kazakhstan Business Council.
The project is significant for a country with just two existing colocation facilities. Kazakhtelecom, the nation’s largest telco, recently announced plans for its first commercial data center powered by Nvidia’s H200 GPUs, while China Energy already has joint renewable energy ventures in Kazakhstan, including a 500MW wind farm and a 300MW solar project.
Digital Edge, B.Grimm break ground on 100MW data center in Thailand
Stonepeak-backed Digital Edge and B.Grimm Power have broken ground on their first joint project in Thailand: a 100MW hyperscale, AI-ready data center in the country’s Eastern Economic Corridor (EEC). The $1 billion campus will be powered by B.Grimm’s renewable energy portfolio and is scheduled for completion in Q4 2026.
“Breaking ground on our first campus in Chonburi is a pivotal moment for Digital Edge,” said John Freeman, CEO of Digital Edge. B.Grimm’s president Dr. Harald Link added: “This facility will not only serve global tech leaders but also strengthen the country’s position as a leading digital hub in Southeast Asia.”
Ryan Companies and EdgeCore target data center developments outside Phoenix, Arizona
Ryan Companies and EdgeCore are pursuing plans for a large-scale data center and industrial campus in Florence, Arizona, a town about 60 miles southeast of Phoenix. The proposals, covering more than 780 acres of the Dobson Farms master-planned community, seek to rezone land for industrial and data center use.
Documents suggest EdgeCore could build ten 72MW, two-story facilities plus substations, while Ryan’s portion could feature multiple data centers, office buildings, and industrial space. The project, dubbed the Florence Tech Park / Able Tech Park / Dobson Farms EdgeCore Data Center, would mark the first data center developments in Florence, expanding Phoenix’s already major role as a U.S. data center hub.
Google confirmed to be behind West Memphis data center project in Arkansas
Google has confirmed it is behind Project Pyramid, a five-building data center campus planned for a 1,178-acre site in West Memphis, Arkansas. The project, valued at $1 billion for 900,000 sq ft of initial development, could grow to as much as $10 billion depending on market conditions.
“We’re thrilled to confirm plans to build a data center campus in West Memphis,” said Laurel Brown, Google’s regional head of data center public affairs. The company is partnering with Entergy to fully cover energy costs, add solar and battery resources, and integrate grid flexibility. A 30-year PILOT agreement will provide tax abatements and is expected to create around 50 high-quality jobs, marking a major boost for a state with only a handful of existing data centers.
600MW data center campus proposed in Texas
Priority Power Management, backed by I Squared Capital, has proposed a 600MW data center campus in College Station, Texas, under the name Project Aggie. The company has offered $30 million to acquire 200 acres in the Midtown Business Park, with plans for up to two large data centers and two 300MW substations.
The College Station City Council will review the land acquisition agreement this week, with staff recommending approval. Located about 100 miles from both Houston and Austin, the site could mark a major addition to Texas’ growing data center market. Priority Power, acquired last year from Oaktree Capital Management and Ara Partners, specializes in developing and operating energy infrastructure.
Microsoft strikes $17.4bn GPU deal with Nebius to bolster AI capacity
Microsoft has entered a five-year, $17.4 billion agreement with Amsterdam-based Nebius to secure GPU compute power for its expanding AI services. The deal, which could rise to $19.4 billion depending on usage, will draw capacity from Nebius’s upcoming Vineland, New Jersey data center, set to go live later this year.
Nebius, a “neocloud” provider spun out of Yandex’s international assets, focuses on AI-specific infrastructure. The agreement represents the largest in Nebius’s history and one of the biggest commitments yet to outsourced GPU resources. Investor response was swift, with Nebius shares soaring 30% after the announcement. For Microsoft, leasing GPU capacity ensures faster scaling of Azure OpenAI Service and Copilot without tying up massive capital in new data centers.
Tract buys land in Iowa for 1GW+ technology park
Tract Buys 453 Acres in Iowa for 1GW+ Data Center Park
Tract has acquired a 453-acre site in Altoona, Iowa, to develop a 1GW+ technology park, marking its entry into the state. The fully entitled site, secured with the City of Altoona through annexation and rezoning agreements, sits on existing 345kV transmission lines, minimizing the need for new infrastructure.
The Des Moines metro area is fast becoming a data center hub, already hosting projects from Microsoft, Apple, and Cologix, with Google and QTS planning multi-billion-dollar campuses elsewhere in Iowa. Tract’s portfolio now includes sites across Nevada, Utah, Texas, Arizona, and Virginia, with the Altoona project adding to its expanding U.S. footprint.
Microsoft acquires 50 hectares for data center expansion in the Netherlands
Microsoft has acquired 50 hectares of land to expand its Middenmeer data center campus in Hollands Kroon, north of Amsterdam. “We have 300,000 customers who want to store their data close by in a sovereign country,” said Joris Schoonis, CEO of Microsoft Netherlands, highlighting demand for local and secure data storage amid geopolitical tensions.
The expansion comes after earlier opposition over water use at the site. Microsoft says it has “learned its lesson” and plans to add a public rainwater collection area for cooling. The facility already sources electricity from Vattenfall’s Wieringermeer wind farm. Despite ongoing protests and scrutiny, the expansion underscores the importance of the Netherlands as a European data center hub.
OpenAI signs $300bn cloud deal with Oracle – report
According to the Wall Street Journal, OpenAI has agreed to purchase $300 billion worth of compute power from Oracle in a five-year deal starting in 2027 — potentially the largest cloud contract in history. The agreement is tied to Project Stargate, OpenAI’s massive data center initiative where Oracle is a key partner.
The deal implies OpenAI would spend around $60 billion per year, double the $30 billion previously reported. Analysts question how the ChatGPT maker — with $10bn in annual recurring revenue but ongoing heavy losses — can sustain such costs. Oracle, meanwhile, faces the challenge of securing enough power and hardware amid high global demand. News of the deal, alongside strong earnings, sent Oracle’s share price up 43%, briefly making founder Larry Ellison the world’s richest man.
India’s Airtel breaks ground on 44MW data center in Kenya
Airtel Breaks Ground on Kenya’s Largest Data Center
Airtel Africa and its data center arm Nxtra have broken ground on a 44MW facility in Tatu City, near Nairobi. Developed in two phases of 22MW each, the site is set to be operational by Q1 2027 and will be the largest data center in Kenya by capacity.
Located in a special economic zone, the project benefits from tax incentives and renewable power, with Tatu City claiming 95% clean energy use. The build represents a KES 19 billion ($147m) investment. Airtel, which launched Nxtra in Africa last year with Carlyle as a minority partner, already operates 40 Edge data centers across the continent.
