Brazil's Patria launches data center platform with initial investment of $1 billion
SAO PAULO (Reuters) -Brazilian investment firm Patria Investimentos on Friday announced the launch of Omnia, a hyperscale data center platform that will invest about $1 billion in its first project in the next 18 to 24 months, as cloud computing and artificial intelligence adoption accelerates in Latin America. The region, particularly Brazil, is emerging as a hub for data center investors, drawn by its abundance of renewable energy and relatively unconstrained growth prospects, standing in contrast to the more saturated markets in the U.S. and Europe. According to Felipe Pinto, Patria's partner responsible for infrastructure investments in the region, global demand for data centers is expected to more than double by 2030, with capacity in Latin America potentially more than tripling in the next few years, requiring up to $50 billion in new funding.