KKR is buying CoolIT Systems, a decades-old company that builds cooling systems for data centers, the investment firm said, making a multimillion-dollar bet on the booming market for generative artificial intelligence and other software tools that require massive amounts of computing power.
The deal, valued at $270 million, will give CoolIT Systems added capital and other resources to scale up to meet growing demand for cooling systems from data-center operators, including giant cloud-computing providers such as Amazon.com’s Amazon Web Services and Microsoft’s Azure cloud unit.
Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Already a subscriber? Sign In
Sponsored Offers
- Kohl's:
Kohl's promo code: 30% Off for Kohl's Rewards Members - Walmart:
20% off your order with Walmart promo code - Target:
Target Promo Code: 20% off Entire Order - Newegg:
10% Off Sitewide - Newegg Promo Code - Dell:
Redeem 35% off your cart with Dell coupon code - Best Buy:
Deal of the Day! Claim as much as 50% Off - Best Buy Coupon
