Coatue launches Next Frontier to buy land for data centers powering AI growth

Coatue, a major venture capital and hedge fund firm, has started a new venture called Next Frontier to acquire land near large power sources for building data centers. This move aims to support AI companies like Anthropic, in which Coatue already holds significant stakes, and capitalize on the growing demand for data center infrastructure. Next Frontier has partnered with FluidStack, a cloud infrastructure startup involved in a $50 billion data center deal for Anthropic. The U.S. is seeing a surge in data center construction, especially in rural areas, driven by increasing AI and cloud computing needs, attracting investment from various players including Coatue and Blackstone.