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Abu Dhabi sovereign wealth fund Mubadala has invested an undisclosed sum in a hyperscale data centre developer Yondr Group via a fund managed by American asset manager Apollo.
The Mubadala investment will support London-based Yondr’s growth strategy in line with demand growth for hyperscale data centres, a statement said.
Global cumulative data center demand is expected to grow at an 11% compound annual growth rate (CAGR) by 2032, driven by advancements in artificial intelligence (AI), 5G technology and the internet of things (IoT), Mubadala said.
The investment is Mubadala’s third major data centre investment in three years, following Aligned Data Centers, a pan-Americas data centre company headquartered in the US, and Princeton Digital Group, a pan-Asian data centre company.
The sovereign is also investing in global fibre network providers such as the UK’s CityFibre and GlobalConnect, which provides data communication and data center service provider to Northern Europe.
(Writing by Imogen Lillywhite; editing by Seban Scaria)
