Vantage Data Centers – a leading global provider of hyperscale data center campuses – announced the company raised a record $10 billion in incremental debt and equity financing throughout 2023 to support the growing demand from the world’s largest hyperscalers. The capital raised supported record leasing, expansion into two new markets, and the groundbreaking of seven campuses across North America, EMEA, and APAC.
Throughout last year, Vantage leveraged these new investments to serve customers in key markets, supporting the development of digital infrastructure and technology hubs globally. And driving the expansion of the company’s international platform, this influx of funding came as demand for hyperscale cloud services and generative artificial intelligence (AI) soared, with projections expected to reach $535 billion by 2028 (Structure Research) and $1.3 trillion by 2032 (Bloomberg Intelligence)
To support the ongoing development of Vantage’s global data center platform, the company secured over $10 billion in incremental capital from new and existing investors in 2023 with additional investments planned for this year.
Last year, Vantage entered the London and Taipei markets along with breaking ground on seven campuses across North America, EMEA and APAC, and opening 10 new data centers globally. And the select highlights include:
1.) North America
Quincy, WA – Vantage delivered its third and final facility on its 89MW WA1 campus in Quincy, Washington. And since entering the market in 2011, Vantage has invested more than $1 billion into the campus and created hundreds of long-term, high-pay jobs. The tax revenue generated by Vantage contributed to the development of a new modern hospital and a state-of-the-art high school.
Phoenix, AZ – Vantage celebrated the topping out of Phase II construction on its $1.5 billion, 176MW AZ1 campus in Goodyear, scheduled to be operational in spring of this year. And the construction and operation of the facility is expected to create about 3,000 jobs.
2.) EMEA
London – Vantage entered the Tier 1 London market with a £500 million investment to support the construction of a 55W campus, followed by the announcement of an additional £250 million investment for the development of a second, 20MW campus.
Cardiff – The company opened a second, 40MW facility on its Cardiff campus in the summer of 2023.
3.) APAC
Cyberjaya – Vantage announced its intention to invest an additional $3 billion to support the development of a second, 256MW campus and a fourth, 16MW facility on its KUL1 campus.
Taipei – Vantage entered the Taipei market, with a 16MW data center.
Leadership Appointments – In support of the company’s growth in Asia Pacific, Vantage appointed Raymond Tong as president, APAC and Joel Cheah as CFO, APAC. ANd the company named Gregory Thompson Jr. as its inaugural chief information security officer. Vantage also welcomed nearly 300 new team members, bringing the company’s total number of global employees to over 1,300.
KEY QUOTES:
“In 2023, we entered emerging and high-demand data center markets to meet the needs of our customers as artificial intelligence and other innovative technologies continue to advance. By aligning our strategic roadmap with our customers’ needs and forging partnerships with leading international investors, we continued our rapid growth in 2023, and we will continue to build on this momentum in 2024 and beyond.”
– Sureel Choksi, president and CEO of Vantage Data Centers
“It has been an exceptional year for Vantage’s growth with unprecedented demand for data center capacity around the globe, underpinned by the significant funding from our investors. In 2023, we more than tripled last year’s investments, enabling us to ramp up our plans to deliver even more capacity for customers. We appreciate the trust, confidence and support of our equity and debt investors, and look forward to continuing these partnerships to create additional value for all Vantage stakeholders.”
– Sharif Metwalli, CFO at Vantage Data Centers
