Latest news with #digitalinfrastructure
Yahoo
6 hours ago
- Business
- Yahoo
Beale Infrastructure Cancels Reclaimed Water System Expansion Plans for Tucson
TUCSON, Ariz., August 08, 2025--(BUSINESS WIRE)--Data centers are the physical backbone of the digital world. The people of Southern Arizona rely on this infrastructure daily to check emails, perform critical health and municipal services, enable remote work, stream media and to organize community events. Beale Infrastructure was founded based on the belief that data centers can and should be designed sustainably working in close partnership with communities, and Beale's mission is to push the industry forward to enable a responsible and inclusive digital infrastructure future. Beale was invited by the City of Tucson to engage in a public-private partnership for the sustainable development of data centers called "Project Blue." The city expressed enthusiasm for the transformative impact of Beale's proposed investments to substantially expand reclaimed water infrastructure and invest an initial $3.6B of economic impact and job creation in Tucson's economically disadvantaged southeast area which has been earmarked for industrial development. On May 30, 2025, it was publicly communicated by the City that the concepts for Project Blue strike the appropriate balance for significant economic development without risking the region's water security. Project Blue concepts have been developed in close partnership with the City of Tucson, engineers at Tucson Water, and Tucson Electric Power (TEP) to maximize principles for sustainable data center design, responsible water use and the pursuit of carbon-free energy resources. At full potential buildout, the concept plans for Project Blue entailed use of a small portion of Tucson's reclaimed water portfolio, which Beale committed to replenish drop-for-drop via investments to develop new water sources, fund PFAS remediation projects, remedy system leaks and other initiatives to be enforced by way of a development agreement. Beale participated in a series of open information-sharing sessions to engage with the community and answer questions about Project Blue. On August 6, 2025, the City Council voted to discontinue engagement on the proposed annexation, resulting in the cancellation of Beale's plans for reclaimed water system expansions. Beale supports and actively seeks community feedback for all potential developments and respects the community's input on the proposed use and replenishment from Tucson's water system. Alternative cooling designs have not yet been prioritized for Project Blue based on the City's feedback and desire to see reclaimed water infrastructure expansions, but they are a viable path for data centers to operate in the region with minimal water use. We continue to believe there is a win-win solution to bring this record-breaking investment to Tucson. "We are disappointed in the decision not to pursue this opportunity for Tucson. We partnered closely with municipal engineering teams and Tucson Water to develop plans directly compatible with Tucson's Climate Action and Adaptation and One Water plans," stated Brendan Gallagher, Senior Vice President of Development. "We see it as a missed opportunity for the city, as this project potentially represents tens of millions of dollars in tax revenue, hundreds of millions of dollars in infrastructure to serve the community, and thousands of high-paying local and union jobs." Beale thanks the supporters who are engaged on this opportunity, and we will continue to engage with the Tucson community on the dialogue around sustainable data center development standards and the role these projects can play advancing Southern Arizona's economic and technological future. Beale is evaluating community partnerships, clean energy strategies and digital infrastructure investment opportunities throughout the United States, and we look forward to sharing more announcements soon. View source version on Contacts Tony Burkarttburkart@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Tahawul Tech
2 days ago
- Business
- Tahawul Tech
Nokia empowers Asia-Pacific data centres
Empyrion Digital, a digital infrastructure developer, has collaborated with Nokia to deploy gateway and aggregation switches to a new South Korean data centre. This move is expected to boost the centre's provision of services to hyperscale companies and enterprise customers. Nokia is to deliver a set-up comprising its 7250 Interconnect Router, core network switches and 7210 Service Access System at the KR1 Gangnam Data Centre (KR1 GDC). Yongsuk Choi, CSO of product and infrastructure at Empyrion Digital, highlighted the strength of Nokia's IP and local supply chain among the reasons it selected the vendor. He said Nokia is likely to be a go-to for other data centres it plans for the Asia Pacific region. KR1 GDC opened in Seoul's Gangnam technology and innovation district last month, the second operational data centre in Empyrion Digital's growing lineup in the region. The facility spans 30,714 square metres and offers a 29.4MW IT load which Empyrion Digital believes leaves it ideally placed to meet heavy demand for data centre capacity in Seoul, at a time when South Korea's AI ambitions are increasing. KR1 GDC employs advanced cooling technologies, green by design principles, and is designed to maximise energy and water usage efficiencies. Empyrion Digital is on a march in Asia-Pacific: in 2024, it struck data centre deals covering Japan, Taiwan and Thailand, adding to an operational site it acquired in Singapore in 2021. Source: Mobile World Live Image Credit: Nokia
Globe and Mail
2 days ago
- Business
- Globe and Mail
Core Scientific, Inc. Schedules Second Quarter Fiscal Year 2025 Earnings Release Date
Core Scientific, Inc. (Nasdaq: CORZ), a leader in digital infrastructure for high-density colocation services and bitcoin mining, today announced it will release its second quarter fiscal year 2025 financial results after financial markets close on Friday, August 8, 2025. Due to the pending transaction with CoreWeave, Inc., which was previously announced on July 7, 2025, the Company will not be hosting a conference call or webcast to discuss its second quarter fiscal year 2025 results. About Core Scientific, Inc. Core Scientific, Inc. ('Core Scientific' or the 'Company') is a leader in digital infrastructure for high-density colocation services and digital asset mining. We operate dedicated, purpose-built facilities for high-density colocation services and are a premier provider of digital infrastructure, software solutions and services to our third-party customers. We employ our own fleet of computers ('miners') to earn digital assets for our own account and we are in the process of converting most of our existing facilities to support artificial intelligence-related workloads and next generation colocation services. We currently derive the majority of our revenue from earning digital assets for our own account but expect to rapidly increase revenue derived from high-density compute. Our colocation facilities are located in Alabama (1), Georgia (2), Kentucky (1), North Carolina (1), North Dakota (1), Oklahoma (1) and Texas (3). To learn more, visit
CNA
2 days ago
- Business
- CNA
Apollo buys Stream Data Centers in bet on AI infrastructure boom
NEW YORK : Apollo agreed to buy a majority interest in Stream Data Centers (SDC), the alternative asset manager said on Wednesday, in a bet on rising demand for digital infrastructure fueled by artificial intelligence and cloud computing. Big Tech companies and outside investors are pouring money into data centers as demand for computing power soars. The physical sites for computing machines and other hardware could require spending of up to $6.7 trillion worldwide by 2030, consultancy McKinsey estimates. SDC builds, leases, manages and operates huge campuses. It has delivered more than 20 to date and has a pipeline of projects with "multi-gigawatt" capacity, Apollo said in a statement. Apollo is betting that so-called hyperscalers - large cloud service providers like Amazon, Microsoft and Google - will continue to rely on outside developers to find the land they need to build data centers, get regulatory approvals for it, and secure sources to cover their vast power needs. "Part of the strategic value of Stream is that we think we can scale them up, and make the company important to each one of the hyperscalers," Trevor Mills, a partner at Apollo, told Reuters. Those large companies "are always going to have needs and different demand pockets where they're going to need to work with a developer," Mills said. Meta recently raised the lower end of its annual capital spending forecast by $2 billion to $66 billion–$72 billion, with CEO Mark Zuckerberg pledging to invest hundreds of billions of dollars in AI data centers. Microsoft expects to spend more than $30 billion in its fiscal first quarter alone — a pace that would put annual outlays near $120 billion — while Alphabet has lifted its 2024 capex target to about $85 billion and signaled further increases next year to meet surging AI demand. Apollo said the deal allowed it to "potentially deploy billions of dollars into next-generation digital infrastructure", but did not disclose the financial terms. The firm's president Jim Zelter said on Tuesday data centers would require $1.5 trillion in external financing, and $800 billion of this could come from private credit, where Apollo is a market leader. The International Energy Agency forecasts electricity demand for data centers worldwide will more than double by 2030, surpassing the amount that the entire country of Japan consumes today. Other asset managers, including Blackstone, KKR and BlackRock, have committed billions of dollars to the sector. Blackstone spent $10 billion to take data center operator QTS private in 2021.
Bloomberg
2 days ago
- Business
- Bloomberg
Apollo Buys Hyperscale Data Center Developer
Apollo is agreeing to buy a majority stake in the hyperscale data center developer Stream Data Centers. The alternate asset manager is trying to capitalize on booming demand for digital infrastructure. Bloomberg's Katherine Doherty joined Wall Street Beat on Bloomberg Open Interest to talk about the move. (Source: Bloomberg)
