DataBank secured nearly $2 billion in equity investment to fund AI-driven data center expansion across the United States. The investment includes $1.5 billion from AustralianSuper, Australia’s largest pension fund marking its first U.S. data center investment, plus $483 million from existing investors including DigitalBridge.
The funding supports construction of data center campuses over the next three years, including DataBank’s largest project in Red Oak, Texas. The 292-acre Dallas-area campus will feature eight buildings with 480 megawatts of capacity, scheduled for mid-2026 completion. DataBank plans to triple its power capacity by adding over 850 megawatts across major metropolitan markets.
“This is a fully funded business plan from the equity side. This will help us meet AI demand.”
— Kevin Ooley, President and CFO of DataBank
DataBank maintains focus on major markets rather than rural locations, providing flexibility to pivot customers between facilities when power constraints arise. The company operates over 70 data centers across 27 U.S. markets with more than 10 expansion projects underway. This latest funding brings DataBank’s total capital raised to over $4 billion in debt and equity within 12 months.
The complete funding details are available on CoStar.
