Data Center View - March 19, 2025 - Meta seeks to raise $35 billion for data centers

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NEWS ROUNDUP

FINANCING: Meta to raise $35 billion for data centers. Apollo is reportedly in discussions to lead a $35 billion financing package for Meta Platforms, aimed at supporting the tech giant's ongoing development of AI-driven data centers across the U.S. The alternative asset manager is expected to provide a substantial portion of the financing, reflecting the soaring capital demands of data centers designed to power next-generation AI infrastructure.

EXPANSION: Core Scientific announces $1.2 billion data center plan. Core Scientific has unveiled a $1.2 billion data center expansion in Texas, in partnership with AI startup CoreWeave. The move aligns with the company’s push into high-performance computing (HPC) infrastructure, signaling a broader shift beyond crypto mining. CEO Adam Sullivan expressed excitement about the collaboration, stating: "We are thrilled to deepen our relationship with CoreWeave as we continue developing large-scale HPC projects that power advanced AI and other low-latency workloads."

M&A: Kent acquires Sudlow Consulting. Kent has acquired Sudlows Consulting, a Dubai-based data center design and consulting company, in a move aimed at expanding its presence in the fast-growing data center sector. John Rippingale, CEO of Sudlows Consulting, described the acquisition as a pivotal moment for the company: "Over the past decade, we’ve built a reputation as leaders in data center engineering, and joining Kent provides us with the platform we need to reach our full potential. This partnership validates the work we’ve done and amplifies what we can achieve together." Kent CEO John Gilley emphasized that the deal aligns with Kent’s strategy to diversify into adjacent markets while maintaining its commitment to innovation and excellence.

DEVELOPMENT: Iron Mountain breaks ground on Miami data center. Iron Mountain has officially broken ground on MIA-1, its first data center in Miami-Dade County. The facility will deliver 16MW of capacity across 150,000 square feet on a 3.4-acre site in District 12 and is set to be operational by 2026. The MIA-1 facility will be powered by 100 percent carbon-free energy. Mark Kidd, executive vice president and general manager of asset lifecycle management and data centers at Iron Mountain, highlighted the strategic importance of the project: "Our new world-class data center will serve as a gateway that connects Miami with the world, making it an exciting time to be part of this community. We’re proud to contribute to its continued success and to enable our customers to thrive in the global digital economy."

DEVELOPMENT: Soluna acquires 60 acres, plans 187 MW data center. Soluna Holdings has finalized a land purchase agreement for 60 acres to develop Project Rosa, a large-scale renewable energy-powered data center. The facility will harness up to 187MW of power for AI and Bitcoin mining operations, marking a significant step in the company’s expansion. The project will be co-located with a 240MW wind farm in Texas, ensuring direct access to sustainable, low-cost energy. John Belizaire, CEO of Soluna, emphasized the project’s significance: "Securing these land agreements is a critical achievement for Soluna. Project Rosa not only enhances our operational capacity but also reinforces our commitment to delivering sustainable, cutting-edge solutions in high-performance computing."

READ: Data center vacancies hit historic lows.

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