Coatue, one of the biggest names in venture capital and hedge funds, has a new plan to generate greater returns from AI beyond its significant stakes in anthropic, Open AIxAI and data center companies such as Singapore’s DayOne and Core tissue.
It has launched a company called Next Frontier to buy land near large energy sources with the goal of converting those parcels into data centers. reports the Wall Street Journal. Sources tell the WSJ that Next Frontier has already signed a joint venture with Fluidstack, a cloud infrastructure startup that signed a $50 billion deal to build data centers for Anthropic. (Coatue did not respond to a request for comment.)
Although the United States already has 3,000 data centers, more than 1,500 new ones are in various stages of construction, according to Bank investigationmost of them in rural areas. The frenzy is attracting land speculation and data center financing projects by many players, ranging from black stone to Kevin O’Leary from “Shark Tank.”
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