(Bloomberg) — Singapore’s Princeton Digital Group plans to double its data-center capacity within three years to meet growing demand from artificial intelligence developers around the world, highlighting tech companies’ growing interest in Asia.
Most read articles on Bloomberg
The Warburg Pincus-backed company plans to add more than 300 employees by the end of 2025 in markets including Japan, Malaysia, Singapore and India as AI drives growth, PDG Chairman and CEO Lang Salgame said in an interview.
PDG is one of several data center operators capitalizing on the expansion of global technology companies in fast-growing regions such as India and Southeast Asia. The company has built 1 gigawatt of energy-hungry capacity over the past six years, and now expects to double that capacity in roughly half the time as demand for AI data centers surges from Mumbai to Singapore, Salgame said.
“With the speed of AI, we can probably get to 1 gigawatt in half the time, so three years from now, maybe sooner,” he said.
PDG, whose investors include the Ontario Teachers’ Pension Plan and the United Arab Emirates sovereign wealth fund Mubadala Investments, owns data centers in several countries, including key markets such as India and China. The company secured $280 million in green loans to fund the $1.5 billion project and began operating the first phase of a 150-megawatt data center in Johor, Malaysia in early July.
The world invested almost $22 billion in data center construction in the first five months of the year, reflecting the increasingly important role data centers play in supporting the expanding digital economy, according to a Linklaters report.
“We expect our capacity to grow by 70 to 200 percent over the next few years,” Salgame said, “which means we will be building many more facilities than we thought possible two years ago. This will be the same for all our markets: Indonesia, Malaysia, Japan and India.”
Most read articles on Bloomberg Businessweek
©2024 Bloomberg LP
