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Keppel aims to grow data centre funds to $19b amid AI boom
The Straits Times
|October 25, 2024
BENGALURU - Keppel plans to more than double its data centre funds under management (FUM) and expand its capacity, as it tries to tap into the artificial intelligence (AI) frenzy that is driving investment into digital infrastructure.
The company on Oct 24 said it aims to raise its data centre FUM from the current $9 billion to $19 billion in the near term. This will come with the upcoming Keppel Data Centre Fund III, as well as further co-investments from investors.
Keppel group chief digital officer Manjot Singh Mann said the company has plans to develop AI campuses, or AI-ready data centres, across Malaysia, India, Japan and Indonesia.
These facilities will support Keppel's goal of expanding its current data centre capacity to 1.2GW gross power capacity, from the current 650MW capacity.
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