Liz Young of The Wall Street Journal reports that an industrial real estate giant plans to develop gigawatt data center capacity in response to the boom in demand sparked by AI. Young writes:
One of the largest industrial real-estate developers in the U.S. plans to begin developing data centers as an artificial-intelligence boom drives demand for the specialized buildings.
Panattoni Development said Thursday it hired a partner, Adam Kramer, to lead a team that will build and operate data centers across North America. The Irvine, Calif.-based company said it plans to develop a gigawatt of data-center capacity over the next five years, the equivalent of what it takes to power about 876,000 homes. […]
“We had to learn that sector and said, ‘We’re going to take that on and figure it out because that’s what our customers want,’” Roberts said. “This is no different. The data centers present an opportunity.”
Read more here.