The Canada Pension Plan Investment Board will invest US$1.75 billion (C$2.4 billion) to support EQT’s strategy to expand AI infrastructure through global data centre developer and operator EdgeConneX.

The investment is aimed at meeting growing global demand for hyperscale, cloud and AI-ready digital infrastructure. CPPIB said the investment expands its exposure to a sector benefiting from long-term growth driven by increasing cloud computing and artificial intelligence adoption.

“Demand for digital infrastructure continues to accelerate globally, fueled by continued cloud and AI adoption,” said Max Biagosch, senior managing director and global head of real assets at CPPIB. “Through this investment alongside EQT, we are increasing our exposure to a sector supported by durable, long-term demand drivers. EdgeConneX’s scaled global platform, strong customer relationships and proven development capabilities position it well to help meet that demand while delivering long-term value for CPP contributors and beneficiaries.”

CPPIB said the transaction builds on its broader digital infrastructure strategy, which includes investments and partnerships across North America, Asia Pacific and Europe.

Founded in 2009, Herndon, Va.-based EdgeConneX operates a global data centre platform in more than 20 countries, serving hyperscale, cloud and enterprise customers. Since EQT acquired the company in 2020, EdgeConneX has expanded its capacity nearly 20-fold and plans to develop more than 10 gigawatts of additional data centre capacity in the coming years.

CPPIB said the transaction has closed following receipt of customary approvals.