DataBank, a data center operator, has secured US$250 million in equity investment from the private equity firm TJC, alongside US$600 million from a secondary share offering.

This comes as demand for high-performance computing grows, fueled by advancements in AI.

Founded in 2005, DataBank has expanded significantly through acquisitions, including Lightbound in 2018 and zColo’s assets in 2020.

It now operates over 65 data centers across 27 markets and has raised a total of US$5 billion in capital over the past 18 months.

This announcement underscores DataBank’s role as a significant player in the expanding data center industry.

The investment aligns with the rapid growth in data center spending.

A report from McKinsey predicts capital expenditures on data center systems could exceed US$250 billion in the next five years.