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NEWS ROUNDUP

DEVELOPMENT: Google commits $15 billion to Missouri campus. Google has announced a $15 billion investment in a new data center campus in Montgomery County, Missouri, as part of the growing wave of AI-driven infrastructure spending by major technology companies. The company said it has already secured contracts for more than 1GW of new power generation capacity in Missouri and will support the development of an additional 500MW through partnerships with utilities, including Ameren.

DISPOSITION: Phoenix Investors affiliate sells Memphis data center for $185 million. An affiliate of Phoenix Investors has sold Colossus I, a 217-acre, 785,000-square-foot data center property in Memphis, Tennessee, to a subsidiary of SpaceX for $185 million. Located at 3231 Paul R Lowry Road, the facility is commonly referred to as Colossus I and is described as the first data center of xAI, a subsidiary of SpaceX. Phoenix Investors said its affiliate companies hold equity interests in an industrial portfolio totaling approximately 86 million square feet across 27 states, with the company increasingly expanding into data center asset repositioning as demand for AI compute infrastructure grows.

DISPOSITION: Mapletree Industrial Trust to sell Philadelphia data center for $14.5 million. Mapletree Industrial Trust, through trustee DBS Trustee Limited and an indirect wholly-owned subsidiary, has agreed to sell its data center property at 2000 Kubach Road in Philadelphia, Pennsylvania to a non-interested third-party buyer for $14.5 million. Ler Lily, CEO of the manager, said the divestment is part of MIT’s strategy to rebalance its portfolio and redeploy capital into markets and assets with sustainable growth potential. The transaction is expected to close by Q3 2026, with proceeds potentially used to repay debt and fund working capital.

FUNDRAISING: Core42 secures $550 million to scale AI cloud deployments. Core42, a G42 company focused on sovereign cloud and AI infrastructure, has secured US$550 million through two structured trade finance facilities with HSBC to support AI cloud and compute deployments across the United States and Europe. The financing includes a US$240 million facility completed in February and a US$310 million facility completed in May. Neha Gupta, Chief Financial Officer of Core42, said the facilities reflect growing institutional recognition of AI infrastructure as long-duration, industrial-grade capacity, while Shaikha AlMarri, Head of Banking UAE at HSBC, said the structures are designed to finance Core42’s current deployment and create a framework for future funding. Roopal Jobanputra, General Counsel at Core42, said the facilities support long-term deployment at scale while maintaining governance and cross-border clarity.

READ: Half of planned US data centers “highly exposed” to natural disaster.

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