Coatue, one of the biggest names in venture capital and hedge funds, has a new plan to generate bigger returns on AI beyond its sizable stakes in Anthropic , OpenAI , xAI, and data center companies like Singapore’s DayOne and CoreWeave .
It has launched a venture called Next Frontier to buy up land near large power sources with the goal of turning those parcels into data centers, the Wall Street Journal reports . Sources tell the WSJ that Next Frontier has already signed a joint venture with Fluidstack, a cloud infrastructure startup that penned a $50 billion deal to build data centers for Anthropic. (Coatue did not respond to a request for comment.)
Although the U.S. already has 3,000 data centers, more than 1,500 new ones are in various stages of being built, according to Pew Research , most of them in rural areas. The frenzy is enticing land speculation and data center financing projects from lots of players, ranging from Blackstone to Kevin O’Leary from “Shark Tank.”
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