Key insights
- Coatue Management's new venture, Next Frontier, aims to acquire land for AI data centers, potentially investing billions. This signals growing demand for AI infrastructure and could positively impact companies like GE Vernova and Vistra, which supply data center infrastructure. The move reflects Coatue's bullish stance on AI and its infrastructure needs.
Investing.com -- Coatue Management has launched a venture to buy land for AI data center development, according to a report from the Wall Street Journal, citing people familiar with the matter. The new firm, called Next Frontier, could spend tens of billions of dollars on the effort.
Next Frontier is working on a project to buy land in Indiana for a data-center campus. The facilities are targeting AI customers including Anthropic.
Philippe Laffont’s $70 billion investment firm holds large stakes in Anthropic and OpenAI. Coatue has also invested in companies that supply infrastructure for data centers, including turbine maker GE Vernova (NYSE:GEV) and power producer Vistra (NYSE:VST).
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