Coatue explores land acquisitions for data centers tied to Anthropic expansion

Coatue Management, one of the most prominent names across venture capital and hedge funds, is pursuing a new strategy to boost returns from its artificial intelligence investments beyond its existing stakes in Anthropic, OpenAI, xAI, and infrastructure players such as Singapore-based DayOne and CoreWeave.

The firm has introduced a new initiative called Next Frontier, aimed at acquiring land near major power sources and transforming those sites into data centre developments, according to a report by The Wall Street Journal. Sources familiar with the matter said that Next Frontier has already formed a joint venture with Fluidstack. This company recently signed a $50 billion agreement to build data centres for Anthropic. Coatue declined to comment on the development.

The United States currently hosts around 3,000 data centres, yet the pipeline continues to expand rapidly. More than 1,500 additional facilities are now in various phases of construction, according to Pew Research Centre data, with a large share of these projects located in rural regions.

The surge in demand for AI infrastructure is also driving increased interest in land speculation and financing tied to data centres. A broad range of investors — from major firms like Blackstone to well-known figures such as Kevin O’Leary of Shark Tank — are becoming involved in these emerging opportunities.