AI investor launches data center land venture
Coatue Management launched Next Frontier to buy land for data center development, with plans to spend tens of billions of dollars, as the data center frenzy continues across the US. Next Frontier is already pursuing its first project, a 430 megawatt complex in New Lebanon, Indiana.
Coatue Management, led by Philippe Laffont, has launched Next Frontier to purchase land for data center development. The firm is prepared to spend tens of billions of dollars and is already pursuing its first project, a 430 megawatt complex in New Lebanon, Indiana. Coatue partners Robert Yin and former Blackstone executive Peter Wallace will lead Next Frontier. The firm has invested in data center companies worldwide, including Firmus in Australia and Scala Data Centers in Brazil. Coatue holds stakes in AI companies Anthropic and OpenAI, and data center infrastructure companies such as Vistra and GE Vernova. Next Frontier has formed a joint venture with Fluidstack, which provides computing services for AI firms, including Anthropic. The data center sector is facing opposition due to concerns over water usage, energy consumption, and land use.
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