Investing

Its data center unit, which sells GPU accelerators for supercomputers and AI, had sales of $2.37 billion in the quarter, up 35% from a year earlier.

The business will focus on the acquisition of data centers and fiber networks in Japan, Australia and other Asian markets.

Aiming to collect $1 billion in fresh capital in coming years, the fund will go after multifamily, industrial, data centers, life sciences, and other property types.

The deal values Iliad at about 10.85 billion euros ($12.9 billion), according to Bloomberg calculations.

The Israeli developer has agreed to acquire the Norwegian data center operator for $850 million.

The fundraising plans would serve as a stepping stone ahead of a potential IPO, sources said.

The listed entity will own about 10 data centers from around the world, valued around $1 billion, sources said.