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NTT Global Data Centers is working with Citigroup to sell stakes in a development vehicle that will own and manage new U.S. data center projects
In sum – what to know:
$1B fundraising – NTT Global Data Centers is reportedly seeking at least $1 billion in new equity to finance additional U.S. data center developments.
AI-driven expansion – The capital raise aligns with the company’s broader strategy to expand capacity as demand for AI infrastructure continues to grow.
Long-term pipeline – NTT has previously outlined plans to double capacity within two years and invest more than $10 billion by 2027 in AI-ready infrastructure.
NTT Global Data Centers is reportedly seeking to raise at least $1 billion in fresh capital to support the expansion of its U.S. data center footprint, as demand for AI-ready infrastructure continues to drive investment across the sector.
According to a Bloomberg report, the company is working with Citigroup to sell stakes in a development vehicle that will own and manage new U.S. data center projects. The fundraising could ultimately exceed $1 billion depending on investor interest, and the company is also said to be exploring an accompanying credit facility.
The report noted that marketing materials have already been distributed to prospective long-term investors, including pension funds and infrastructure investors, with a formal fundraising process expected to begin in the coming weeks. Discussions remain preliminary, and the size and timing of the transaction could still change.
The proposed structure reflects a broader trend in the data center industry, where developers establish dedicated investment vehicles for early-stage projects. By separating pre-revenue assets into standalone entities, operators can attract long-term capital willing to assume development risk while preserving financial flexibility for future expansion.
NTT Global Data Centers is among the world’s largest colocation providers outside China and has been pursuing an aggressive growth strategy to meet rising cloud and AI infrastructure demand.
In 2025, parent company NTT Data announced it had acquired land across North America, Europe and Asia to support nearly one gigawatt of planned data center capacity, including new sites in the U.S. states of Oregon and Arizona.
Earlier this year, the firm’s chief executive officer Doug Adams told Bloomberg that the company was developing 34 projects that are expected to double its capacity within two years, with total capacity projected to exceed five gigawatts over the next five years.
The fundraising effort also follows NTT Data’s previously announced plan to invest more than $10 billion by 2027 to deploy infrastructure capable of supporting increasingly dense AI workloads.
NTT Data Centers is reshaping its strategy to keep pace with the rapid shift toward AI-heavy workloads, COO Joe Pace told RCRTech in a previous episode of Rack to RAN.
Pace said the company is taking a “multi-pronged approach” rooted in global expansion, AI-ready infrastructure, and long-term sustainability commitments.
“We’re taking a multi-pronged approach to it,” Pace said. “First, we are working on global expansion. We’ve acquired land in seven markets like Frankfurt, Osaka, Phoenix and Milan, and we’re growing our global footprint. And that land alone is over a gigawatt worth of expansion capacity.”
He explained that the company is also focusing heavily on infrastructure optimization: “We’re trying to optimize our infrastructure to be AI-ready. And that comes with starting with a design that is ready for AI and can be adapted flexibly to the needs of our customers.”
When asked whether the company prioritizes new AI-ready developments or upgrades to existing sites, Pace said NTT Global Data Centers is pursuing both paths. “We’re trying to do both. We try to stay ahead of our clients to where they need to be… That said, it’s always easier to do AI AI-ready greenfield… So we’re doing both here at NTT.”
