Press Release

Vantage Data Centers sees record growth in 2023 amid AI and cloud surge

Wed 7 Feb 2024

Vantage Data Centers raised a massive £7.9 billion ($10 billion) in incremental debt and equity financing in 2023, driven by the soaring demand for hyperscale data centre services.

This capital boost facilitated record leasing, expansion into new markets, and the initiation of seven new campuses across key global regions.

Sureel Choksi, President and CEO of Vantage Data Centers, said: “In 2023, we entered emerging and high-demand data centre markets to meet the needs of our customers as artificial intelligence and other innovative technologies continue to advance.”

Choksi noted the alignment of Vantage’s strategic roadmap with customer needs and the role of international investor partnerships in the company’s rapid growth.

“We will continue to build on this momentum in 2024 and beyond,” added Choksi.

Strategic Investments and Global Expansion

The company’s growth was supported by over £7.9 billion ($10 billion) in capital from new and existing investors, with plans for further investments in 2024.

Sharif Metwalli, CFO at Vantage Data Centers, said: “In 2023, we more than tripled last year’s investments, enabling us to ramp up our plans to deliver even more capacity for customers.”

In 2023, Vantage made strides by entering the London and Taipei markets and breaking ground on new campuses in North America, EMEA, and APAC. In total, the company opened 10 new data centres globally.

“It has been an exceptional year for Vantage’s growth with unprecedented demand for data center capacity around the globe underpinned by the significant funding from our investors,” added Metwalli.

Leadership and Sustainability Initiatives

The company strengthened its leadership team and committed to Environmental, Social, and Governance (ESG) initiatives, including appointing Raymond Tong as President for APAC and Joel Cheah as CFO for APAC.

Vantage also focused on environmental stewardship, aiming to reach net zero carbon emissions by 2030 and deploying renewable fuel sources at its campuses.

With 32 campuses across five continents and plans for further expansion backed by a £5 billion ($6.4 billion) equity investment, Vantage Data Centers envisions continued success driven by the growing demands of AI and cloud computing.

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