Abu Dhabi’s Mubadala Invests in Yondr Group to Boost Data Center Expansion
An undisclosed amount was invested in hyperscale data center developer Yonder Group by Abu Dhabi Sower’s Wealth Fund Mutual, a fund managed by USS asset manager Apollo.
Mupadala’s investment will support London-based Yonder’s growth strategy to leverage growth in hyperscale data center demand, according to a statement.
Global overall data center demand is expected to grow at a compound annual growth rate (CAGR) of 11% by 2032, driven by advances in artificial intelligence (AI), 5G technology and the Internet of Things (IoT), Mupadala said.
The investment is Mubatala’s third major data center investment in three years, following US-headquartered pan-American data center company Alliant Data Centers and pan-Asian data center company Princeton Digital Group.
Sovereign also invests in global fiber network providers such as the UK’s CityFibre and GlobalConnect, a data communications and data center service provider for Northern Europe.