Coatue has a plan to buy up land for data centers, possibly for Anthropic

Coatue, a prominent player in the venture capital and hedge fund landscape, is launching a strategic initiative aimed at enhancing its returns from artificial intelligence investments. This new endeavor, named Next Frontier, focuses on acquiring land near significant power sources to develop data centers. Reports from the Wall Street Journal indicate that this venture is already making strides by entering a joint venture with FluidStack, a cloud infrastructure startup that recently secured a massive $50 billion contract to construct data centers for Anthropic. Despite the United States already housing approximately 3,000 data centers, there is a notable push for expansion, with over 1,500 additional facilities currently under development, particularly in rural regions. This burgeoning demand for data centers is attracting a wide array of investors and speculators, including heavyweights like Blackstone and television personality Kevin O’Leary from Shark Tank. The race to secure land and financing for data center projects is heating up, reflecting the growing significance of this sector in the tech landscape.