Summary:
€8.5 billion investment by Davidson Kempner and Pioneer Point Partners in Sines, Portugal by 2030
Start Campus project to include six data centre buildings, with one already operational
Surge in demand for data centres due to AI integration since ChatGPT's launch
Minister Pedro Reis calls it a "structuring investment" for the Portuguese economy
Sines' geographical location offers strategic advantages for the data economy
Major Investment in Data Infrastructure
U.S. investment fund Davidson Kempner and Britain's Pioneer Point Partners are making waves in the tech landscape with plans to invest €8.5 billion ($9.35 billion) by 2030 in a cutting-edge data centre hub located in Sines, Portugal. This investment aims to meet the surging demand from major tech and artificial intelligence companies.
Start Campus Project
The joint venture, named Start Campus, is strategically positioned 150 km (93 miles) south of Lisbon and already has one of the six planned buildings operational. This initiative is particularly timely, as the demand for data centres has skyrocketed since the launch of ChatGPT by OpenAI in 2022. Companies across various sectors are increasingly transitioning their operations to the cloud and integrating AI into their services.
Economic Implications
Portugal's caretaker Economy Minister, Pedro Reis, emphasized that this project is a "structuring investment for the Portuguese economy", which will position Portugal strategically within the data economy. He noted the privileged geographical location of Sines as a significant advantage for the project.
($1 = 0.9087 euros)
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