Latest news with #ArizonaLandConsulting
Time of India
6 days ago
- Business
- Time of India
Indian American real estate tycoon Anita Verma-Lallian closes $51 million data centre deal in Arizona
Anita Verma-Lallian and Chamath Palihapitiya Arizona Land Consulting (ALC), a data centre investment fund led by Indian American real estate investor Anita Verma-Lallian, has recently closed on a landmark $51 million land deal, strengthening its position as a driving force in Arizona's AI infrastructure race. Well-known Silicon Valley venture capitalist Chamath Palihapitiya also joined the investment group backing the deal, alongside other prominent tech investors. "Partnering with Chamath [Palihapitiya] represents more than just capital. It's an alignment of vision for America's AI future. When you have Bill Gates building his smart city next door and tech titans choosing Arizona over Silicon Valley, it's clear we're witnessing a historic shift. This $51 million acquisition is a declaration that the future of AI infrastructure will be built on Arizona soil,' Verma-Lallian of real estate firm Arizona Land Consulting (ALC) said about the deal. In a press release, ALC, said that this partnership highlights the growing momentum behind Arizona as America's next epicentre for AI and advanced computing. 'Investing in AI infrastructure is not only critical to solving our economic challenges, it is a matter of national security. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Roar into Style! Leopard Print Slim Fitting Dress! Undo Unleash Your Wild Side: Leopard Print Slim Dress! Undo Level Up Your Look: Men Tracksuit with Hoodie! Undo Get the Look: Rhinestone Juicy Sweatsuit - Shop Modefash! Undo Complete Your Look: Women's 3-Piece Sweatsuit - Undo Chic Comfort! Women's 3-Piece Sweatsuit. Undo Shop Exclusive Deals & Save Big! Undo Modefash: Ultimate Comfort - Men's Tracksuit with Hoodie! Undo Sparkle & Shine: Trending Rhinestone Juicy Sweatsuit! Undo Don't Miss Out! Exclusive Deals at Undo This project can accommodate over 1GW and is ideally situated for us to continue to support America's lead in AI. This data centre project is led by a great team - I'm excited to partner with Anita [Verma-Lallian] and do more of this over time.' The Sri Lanka-born, Canadian American investor and CEO of Social Capital, Palihapitiya, said. The transaction is the second for Verma Lallian's strategic vision to meet surging demand for AI-ready real estate, with the newly acquired land positioned among high-profile neighbours, including Bill Gates, a press release from Arizona Land Consulting stated. According to the press release, key factors driving ALC's acquisition include energy innovation including partnerships in waterless cooling technology for data centres and exploring next-gen power sources like fusion and renewables; a pro-growth environment in the state of Arizona; a prime land asset amid the state's tech boom and a disaster-resistant geography that is ideal for mission-critical data centres. "The AI opportunity can only scale if we have the infrastructure to support it. Suitable land for data centre development is in short supply, and this is the most attractive project I've seen. DYA is partnering with ALC on this because there is going to be a massive shortage of compute for years to come,' Ethan Agarwal, managing partner, DYA Capital, said.
Bloomberg
7 days ago
- Business
- Bloomberg
Venture Capitalist Palihapitiya Buys Stake in Arizona Property for Data-Center Bet
Venture capitalist Chamath Palihapitiya is investing in an Arizona land deal, betting that the site could be used for data centers given its potential access to 1,500 megawatts of power. Palihapitiya teamed up with Anita Verma-Lallian, chief executive officer of Arizona Land Consulting, and other investors to purchase 2,100 acres (850 hectares) of land west of Phoenix called Hassayampa Ranch. The site cost $51 million to assemble but has the potential to be worth $25 billion when completed for data centers, according to Verma-Lallian, who is selling stakes in the project.
