In a separate announcement minutes after, Singtel says it is part of a consortium led by KKR investing an initial $1.75 billion in ST Telemedia Global Data Centres (STT GDC), an indirect subsidiary of Singapore Technologies Telemedia, itself a unit of Temasek, which also holds a 51.81% stake in Singtel. The investment can go up to $3 billion with KKR owning 14.1% and Singtel 4.2%.
If data is the new oil as the fancy quip goes, data centres (DCs) are the new goldmines. Pieces have been put in place for the potential creation of a global DC player ultimately backed by Temasek Holdings, as the multiple players race to pan their gold by meeting the surging demand for computing capacity from wider deployment of artificial intelligence (AI) applications.
On June 18, Singapore Telecommunications (SGX:Z74
) (Singtel) announced that its regional DC arm Nxera, which has backing from private equity firm KKR, has formed a DC joint venture (JV) with Telekom Malaysia (TM), marking a formal partnership between the two incumbent telcos of the two countries.
