Blackstone-backed AirTrunk has delayed a Singapore REIT IPO of about $1.5 billion until next year, according to people familiar with the matter. One account blames a chip rout, the other US rate rises; the yield points to rates.
Perspective Coverage
3 publishers
- Builder
- Builder 7%
- Operator
- Operator 31%
- Investor
- Investor 62%
Reality
- Evidence58
- Adoption
- Insufficient
- Hype gap+15
- Incentives
- Insufficient
- Confidence62
buildOne report1 publisher AirTrunk took a $1 billion green loan to install liquid cooling at TOK1, its Inzai campus serving Tokyo, with first capacity due in January 2028. The money goes into a campus AirTrunk opened in 2021 for cloud demand. TOK1 is where the company tests converting a running site for denser AI workloads.
Reality
- Evidence45
- Adoption15
- Hype gap+15
- Incentives45
- Confidence45
Nvidia has named eight Australian operators and a 2027 target of up to two gigawatts. The announcement leaves out per-site dates, price, customers and power supply, which is the part a buyer has to sign.
Reality
- Evidence45
- Adoption25
- Hype gap+40
- Incentives72
- Confidence55
Westpac IQ's estimate implies about $387,500 of capital per job counted, and the electricity to run the build takes data centres from 3% of Australian supply to 13% by 2035-36, faster than AEMO says the grid can be built.
Reality
- Evidence25
- Adoption
- Insufficient
- Hype gap+45
- Incentives80
- Confidence38
Digital Realty, Equinix, Keppel and STT GDC each get 50MW on Jurong Island. Half the load must run on low-carbon energy, and liquid cooling is part of the deal.
Reality
- Evidence58
- Adoption34
- Hype gap+14
- Incentives62
- Confidence55