All the funding deals in the data center market
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The data center market is attracting major investments as demand for AI computing, cloud services, power infrastructure, and advanced cooling continues to grow.
We conducted deep research and collected 45 data center market funding deals announced between 2024 and 2026.
We refresh this page very often to include newly announced data center market funding deals.
And if you want to better understand this new industry, you should get our beautiful slides covering the data center market.
Insights
- The 45 data center market funding deals raised more than $35 billion in total. Large infrastructure platforms received most of this capital because building data centers requires significant land, power, and construction spending.
- Data center operators received much larger investments than cooling and power technology companies. Operators often raised hundreds of millions or billions of dollars, while infrastructure technology rounds were usually below $150 million.
- AI demand became a central funding theme in the data center market. Many companies now describe new facilities as AI factories, AI campuses, or high-density computing infrastructure.
- Cooling technology attracted repeated investment across the data center market. Accelsius, Submer, LiquidStack, Iceotope, ZutaCore, and Corintis raised capital for liquid or in-chip cooling systems.
- Power availability is becoming as important as computing capacity in the data center market. Joule, DG Matrix, Claros, Amperesand, and TAR raised funding for power generation, conversion, or delivery.
- Several data center market companies are exploring locations beyond traditional buildings. Starcloud and Lumen Orbit are developing orbital data centers, while Panthalassa plans to operate computing infrastructure at sea.
- Nscale completed three separate funding rounds across 2025 and early 2026. The AI infrastructure company raised approximately $3.5 billion across the three announced transactions.
- Crusoe also returned to the funding market. Crusoe raised $600 million in 2024 and another $1.375 billion in 2025 to expand AI data center infrastructure.
- Asia-Pacific remained an important region for data center investment. DayOne, Vantage Data Centers, Princeton Digital Group, Digital Edge, Firmus, NEXTDC, and ST Telemedia GDC all raised substantial capital.
- The largest data center market deals came from established infrastructure platforms. Vantage Data Centers, Aligned Data Centers, DataBank, DayOne, Nscale, and EdgeCore each announced investments of at least $1.9 billion.
This chart, featured in our data center market deck, illustrates yearly venture capital funding for data center startups
Summary table of the funding deals for the data center market since 2024
We define the data center market as the market for delivering and operating physical data center capacity (space, power, and cooling) used to host computing equipment.
We include colocation providers and hyperscale facilities (owned or leased) and the facility infrastructure required to power and cool IT loads.
We exclude the IT equipment and software inside the facility (servers/GPUs, storage, networking, and cloud services revenue).
We focused exclusively on pure players, defined as companies with at least 70–80% of their business directly tied to the data center market.
Our analysis has been done at a global level with a minimum funding threshold of $300k.
You can also read our detailed analysis to understand how funding activity in the data center market has evolved recently.
If you want a longer-term view, we also have a study of how funding activity in the data center market has changed over the years.
Also, you should know that we have a dedicated page, updated weekly, with all the latest fundraising deals in the data center market.
| Name | What they do | Amount in $ | Quarter | Source(s) |
|---|---|---|---|---|
| Firmus | Builds energy-efficient AI data centers and computing infrastructure across Asia-Pacific. | $505M | Q2 2026 | Firmus |
| Panthalassa | Deploys ocean-powered computing nodes for AI processing at sea. | $140M | Q2 2026 | PR Newswire |
| Iceotope | Provides precision liquid cooling systems for AI and data center infrastructure. | $26M | Q2 2026 | Iceotope |
| ZutaCore | Provides waterless liquid cooling systems for high-density AI data centers. | $100M+ | Q2 2026 | ZutaCore |
| TAR / Transformative American Resources | Provides modular on-site power systems for AI data centers. | $27M | Q2 2026 | Forbes |
| Starcloud | Builds orbital data centers designed to reduce terrestrial power and cooling constraints. | $170M | Q1 2026 | Business Wire |
| EPG | Provides prefabricated infrastructure for faster AI data center construction. | $100M+ | Q1 2026 | PR Newswire |
| Claros | Develops efficient power delivery systems for AI data centers. | $30M | Q1 2026 | Business Wire |
| DG Matrix | Develops power-conversion systems for AI data centers and electrification projects. | $60M | Q1 2026 | Business Wire |
| Joule | Develops AI data center campuses with integrated power infrastructure. | $60M | Q1 2026 | PR Newswire |
| Nscale | Builds and operates large-scale AI data center infrastructure worldwide. | $2,000M | Q1 2026 | Nscale |
| GDS Holdings | Develops and operates high-performance data centers across China. | $300M | Q1 2026 | GDS Holdings |
| Accelsius | Provides two-phase liquid cooling systems for AI and HPC data centers. | $65M | Q1 2026 | Business Wire |
| DayOne Data Centers | Develops AI-ready hyperscale data center campuses across Asia-Pacific and Europe. | $2,000M+ | Q1 2026 | DayOne Data Centers |
| Crusoe | Builds and operates large-scale AI data centers and computing infrastructure. | $1,375M | Q4 2025 | DCD, DCD |
| Nscale | Builds and operates large-scale AI data center infrastructure worldwide. | $433M | Q4 2025 | AI Business |
| Firmus | Operates AI infrastructure and expands high-density data center capacity. | $327M | Q4 2025 | Firmus, DCD |
| Amperesand | Develops power infrastructure for AI data centers and critical facilities. | $80M | Q4 2025 | Business Wire |
| Phaidra | Uses AI agents to improve data center cooling and energy efficiency. | $50M | Q4 2025 | TechEdgeAI |
| Corintis | Develops microfluidic chip cooling systems for AI data centers. | $25M | Q4 2025 | DCD |
| Nscale | Builds and operates large-scale AI data center infrastructure worldwide. | $1,100M | Q3 2025 | Nscale, DCD |
| Vantage Data Centers | Develops and operates hyperscale data center campuses worldwide. | $1,600M | Q3 2025 | Vantage, GIC |
| Princeton Digital Group | Develops and operates hyperscale data centers across Asia-Pacific. | $1,300M | Q3 2025 | Princeton Digital Group, Stonepeak |
| Armada | Builds modular AI data centers for remote and industrial locations. | $131M | Q3 2025 | Armada, PR Newswire |
| Fermi America | Develops the HyperGrid AI data center campus in Amarillo, Texas. | $100M | Q3 2025 | DCD |
| Digital Edge | Operates hyperscale and edge data centers across Asia. | $640M | Q1 2025 | Digital Edge, DCD |
| Applied Digital | Builds and operates high-performance computing data centers. | $900M | Q1 2025 | Macquarie, Applied Digital |
| Aligned Data Centers | Develops adaptable data centers for hyperscale and enterprise customers. | $5,000M | Q1 2025 | Aligned Data Centers, DCD |
| DataBank | Provides edge colocation, interconnection, and data center services. | $250M | Q1 2025 | DataBank, TechCrunch |
| DayOne / GDS International | Develops and operates AI-ready hyperscale data centers internationally. | $1,200M | Q4 2024 | PR Newswire |
| Crusoe | Builds clean-energy AI data centers and cloud computing capacity. | $600M | Q4 2024 | Crusoe |
| Lancium | Develops large data center campuses with power-focused infrastructure in Texas. | $500M | Q4 2024 | DCD |
| Cologix | Operates interconnection, edge, and hyperscale data centers across North America. | $500M | Q4 2024 | Cologix |
| DataBank | Provides edge colocation, interconnection, and data center services. | $2,000M | Q4 2024 | DataBank |
| Submer | Provides immersion cooling systems for AI, edge, and HPC data centers. | $55.5M | Q4 2024 | Submer |
| Accelsius | Provides two-phase liquid cooling systems for data centers and edge facilities. | $24M | Q4 2024 | Business Wire |
| LiquidStack | Provides direct-to-chip and immersion cooling systems for data centers. | $20M | Q4 2024 | LiquidStack |
| Lumen Orbit | Develops space-based data centers for AI and other computing workloads. | $11M | Q4 2024 | GeekWire |
| EdgeCore Digital Infrastructure | Develops and operates wholesale hyperscale data centers. | $1,900M | Q3 2024 | DCD |
| Vantage Data Centers | Develops and operates hyperscale data center campuses worldwide. | $9,200M | Q2 2024 | Business Wire |
| ST Telemedia Global Data Centres | Provides colocation data center services across Asia and Europe. | $1,300M | Q2 2024 | STT GDC |
| NEXTDC | Operates carrier-neutral data centers across Australia and Asia-Pacific. | $860.4M | Q2 2024 | ASX Announcements |
| Metrobloks | Builds modular urban data centers for low-latency and AI workloads. | $5.2M | Q2 2024 | Metrobloks |
| GDS International / DigitalLand Holdings | Operates GDS data center assets outside mainland China. | $587M | Q1 2024 | GDS Holdings |
| Lumen Orbit | Develops orbital data centers for satellite and AI computing workloads. | $2.4M | Q1 2024 | GeekWire |
This market map, featured in our data center market deck, highlights top companies and startups in the data center market
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