Chindata Group’s data center business, owned by Bain Capital, has attracted bids from several local companies amid rising AI demand, according to people familiar with the matter.

The potential sale could value Chindata’s China operations at about 30 billion yuan (US$4.2 billion), though discussions are ongoing and no final decision has been made.

Range Intelligent Computing Technology Group, a Shenzhen-listed data center services provider, is among those who have submitted binding offers.

Other reported bidders include Guangdong HEC Technology, Youzu Interactive, state-backed Beijing Capital Group, and Shanghai’s Inesa Group.

Chindata, founded in 2015, runs data centers in regions such as Beijing, Shanghai’s Yangtze River Delta, and the Greater Bay Area, and also operates in India and Malaysia.

Bain Capital took Chindata private in 2023 in a US$3.2 billion deal.

🔗 Source: Bloomberg

🧠 Food for thought

1️⃣ Private equity captures AI infrastructure boom with rapid value creation

Bain’s data center deal demonstrates how quickly private equity can generate returns in AI-driven infrastructure markets.

The firm acquired Chindata for $3.2 billion in 2023 and is now selling the China operations for approximately $4.2 billion, representing a 31% value increase in roughly two years1.

This timeline aligns with the explosive growth in AI data center demand, where the global market is projected to expand at a 31.6% annual growth rate through 20302.

The rapid value creation reflects broader market dynamics where major tech companies are projected to invest $364 billion in data centers in 2025 alone. For private equity firms, this validates the strategy of acquiring infrastructure assets just before major technology shifts create substantial demand increases.

2️⃣ Chinese companies consolidate domestic data center assets as AI demand accelerates

The bidding competition among Chinese firms for Chindata’s assets reflects strategic positioning in the world’s fastest-growing AI infrastructure market.

Range Intelligent Computing, despite reporting an 8.7% decline in net profit for the first half of 2025 due to competitive pressures, remains aggressive in expansion through acquisitions3.