New York, 8 May 2026 – Principal is seeking to raise about US$3 billion across two data centre-focused funds, underscoring how artificial intelligence is drawing more institutional capital into digital infrastructure as investors look for exposure to the next phase of computing demand.
The planned fundraising reflects growing appetite for data centres, which have become essential assets in the AI economy. As companies deploy larger models, expand cloud capacity and process more enterprise data, demand is rising for facilities with reliable power, cooling, fibre connectivity and long-term customer contracts.
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