Coatue, one of the largest venture capital and hedge funds, has new plans to generate bigger returns from AI, beyond its huge stakes in Anthropic, OpenAI, xAI, and data center companies such as Singapore's DayOne and CoreWeave.
According to a report in the Wall Street Journal, the company is launching a venture called Next Frontier that will buy up land near large power sources, with the goal of turning those lands into data centers. Next Frontier already has a joint venture with FluidStack, a cloud infrastructure startup that has signed a $50 billion contract to build Anthropic's data centers, people told the Journal. (Mr. Courtue did not respond to a request for comment.)
According to Pew Research, there are already 3,000 data centers in the United States, but more than 1,500 new data centers are in various stages of construction, most of them in rural areas. The frenzy has attracted land speculation and data center financing projects from players ranging from Blackstone to “Shark Tank's” Kevin O'Leary.
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