Vantage Data Centers, a prominent global provider of hyperscale data center campuses, has successfully raised a remarkable $10 billion in additional debt and equity financing throughout the year 2023. This substantial funding is intended to cater to the escalating demand from major hyperscalers worldwide. The capital infusion supported unprecedented leasing activity, expansion into two novel markets, and the initiation of seven campuses across North America, EMEA, and APAC.
In the course of 2023, Vantage strategically utilized these fresh investments to serve clientele in pivotal markets, contributing to the advancement of digital infrastructure and technology hubs on a global scale. The surge in capital coincided with the escalating demand for hyperscale cloud services and generative artificial intelligence (AI), with projections anticipating a market value of $535 billion by 2028 (Structure Research) and $1.3 trillion by 2032 (Bloomberg Intelligence).
Sureel Choksi, President and CEO of Vantage Data Centers, expressed, “In 2023, we ventured into emerging and high-demand data center markets to meet the evolving needs of our customers in the rapidly advancing landscape of artificial intelligence and other innovative technologies. By aligning our strategic roadmap with customer requirements and cultivating partnerships with leading international investors, we sustained our rapid growth in 2023, and we plan to build upon this momentum in 2024 and beyond.”
Capital Investments: To bolster the continuous development of Vantage’s global data center platform, the company secured over $10 billion in incremental capital from both new and existing investors in 2023, with additional investments earmarked for 2024. Sharif Metwalli, CFO at Vantage Data Centers, acknowledged the exceptional growth in 2023, emphasizing the trust, confidence, and support from equity and debt investors.
Market Expansions in 2023:
- North America:
- Quincy, WA: Completed the third and final facility on the 89MW WA1 campus in Quincy, Washington, contributing over $1 billion to the local economy.
- Phoenix, AZ: Reached the topping out of Phase II construction on the $1.5 billion, 176MW AZ1 campus in Goodyear, scheduled for operation in spring 2024, creating approximately 3,000 jobs.
- EMEA:
- London: Entered the Tier 1 London market with a £500 million investment for a 55W campus, followed by an additional £250 million for a second 20MW campus.
- Cardiff: Opened a second 40MW facility on the Cardiff campus in the summer of 2023.
- APAC:
- Cyberjaya: Announced a $3 billion investment to support the development of a second 256MW campus and a fourth 16MW facility on the KUL1 campus.
- Taipei: Entered the Taipei market with a 16MW data center.
Leadership Appointments and ESG Initiatives: To support the company’s growth in Asia Pacific, Vantage appointed Raymond Tong as President, APAC, and Joel Cheah as CFO, APAC. Gregory Thompson Jr. was named the inaugural Chief Information Security Officer. Additionally, Vantage published its second annual Environmental, Social, and Governance (ESG) report, emphasizing its commitment to environmental stewardship, social responsibility, and ethical governance. The report, titled “A Global Vision. Locally Adapted,” showcased the company’s efforts to achieve net-zero carbon emissions by 2030, including the deployment of renewable fuel at select campuses.
As Vantage enters 2024, it anticipates robust performance with 32 campuses spanning five continents, 13 countries, and 19 markets, boasting an IT capacity that will surpass 2GW once all campuses are fully developed. The company recently announced a $6.4 billion equity investment led by DigitalBridge Group, Inc. (NYSE: DBRG) and Silver Lake to further support the development of additional data center campuses across North America and EMEA.
