KKR is buying data-center cooling company CoolIT in a bet on the booming market for generative AI and other tools that require massive amounts of computing power
CoolIT also works with individual companies running AI applications and other business software in their own data centers.
Data centers are warehouse-size facilities filled with networks of computer servers that provide the underlying infrastructure for cloud computing. There are roughly 8,000 data centers worldwide, supporting everything from AI apps such as ChatGPT, to video streaming, online gaming, enterprise software, 5G networks and other systems.
“Building data-center designs to power advanced generative AI workloads requires rethinking cooling, layout, networking and integration components,” said Chirag Dekate, vice president, analyst at IT research and consulting firmSpending in the global generative AI market is expected to reach $42.6 billion by the end of the year, growing at a compound annual rate of 32% to $98.1 billion by 2026, according to market analytics firm PitchBook Data.
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