Singapore data center upstart Sustainable Metal Cloud is raising about $950 million in fresh funds, seeking to tap the global artificial intelligence boom to spur its growth.
The company, an affiliate of Australia’s Firmus Technologies, is finalizing an initial equity round of about $400 million, people familiar with the matter said. The six-year-old firm is also in the process of raising $550 million in debt, the people said, asking not to be identified as the plans are private.
SMC is among data center companies targeting Asia as global tech conglomerates and AI startups seek computing capacity for their services. ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.