Data is a big money game nowadays.
Private equity giant Blackstone Group makes a strategic investment of USD 300 million DDNvaluing the Chatsworth, California-based data storage company at $5 billion.
Founded in 1998, DDN — formerly called DataDirect Networks — helps corporations store, analyze and manage data, a high-value commodity as more corporations look to build and train artificial intelligence models.
The company plans to make use of the recent money to expand across industries, from healthcare to autonomous vehicles, and speed up product innovation, including its AI-powered data analytics platform.
Big money
Of course, this is not the only play Blackstone Group has made in the data sector. This was the case last 12 months reported the world’s largest asset manager plans to speculate $8.2 billion in the development of data centers in Spain. In 2023 it is cooperated With Digital reality build $7 billion price of data centers aimed at providers of online content, cloud services and artificial intelligence.
Blackstone is also a supporter CoreWeavean artificial intelligence infrastructure startup that gives access to highly sought-after AI chips from Nvidia.
Overall, data centers and data storage and management are attracting a lot of attention from investors as corporations of all sizes try to make use of their data to scale up their AI initiatives.
Late last 12 months AustralianSuper announced that it has committed $1.5 billion to turn into a minority owner in Data Bankprovider of enterprise-class data centers in North America. Amazon said it plans to speculate $100 billion in AI data centers over the next decade OpenAI AND Microsoft are planning a joint data center project is expected to cost $100 billion.