TNB Tech Minute: Investment Firm Coatue Launches Venture to Buy Land for AI Data Centers

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Danny Lewis· Host0:29

[outro music] Here's your afternoon TNB Tech Minute for Friday, May first. I'm Danny Lewis for The Wall Street Journal. Investment firm Coatue Management is known for its big bets on tech. Now, we exclusively report that the seventy billion dollar investment firm is launching a new venture to buy land to be developed for AI data centers. People familiar with the matter say tens of billions of dollars could be spent on the effort, called Next Frontier. The new firm is already at work on one of its first big projects, buying land in Indiana for a data center campus. Coatue has large stakes in Anthropic and OpenAI, and it has invested heavily in companies that supply infrastructure for data centers, including turbine maker GE Vernova and power producer Vistra. In another WSJ exclusive, Cboe Global Markets is slashing twenty percent of its staff and tightening its return-to-office policies as its latest move in a plan to sharpen its focus on key businesses. According to a memo seen by The Wall Street Journal, about a fifth of Cboe's global