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Soar AI lands up to $1B equity facility for AI data center sites
The equity facility is intended to expand Soar AI’s Ohio 154 MW campus and its roadmap to 480 MW, while also targeting brownfield industrial sites.
Soar AI, a former private aviation company in rebranding, has entered a stock purchase agreement with an institutional investor for an equity facility of up to $1B to support artificial intelligence infrastructure and data center development, according to Bisnow.
The company said it will redevelop existing industrial properties rather than build data centers from the ground up, using available electrical infrastructure where practical.
Bisnow reports that Soar AI’s Ohio AI infrastructure campus is its first such site, with 154 megawatts available and a roadmap to 480 MW, and the funding is expected to support expansion of that campus as well as development at additional potential brownfield sites in the U.S. and beyond.