I Squared Capital Invests in Brazil's AI Infrastructure

I Squared Capital has acquired a majority stake in Elea, a Brazilian data center firm that operates nine campuses across Brazil, including major cities like São Paulo and Brasília. The financial terms of the acquisition have not been disclosed, but the investment will support Elea's planned expansion, particularly its ambitious Rio AI City project, which aims to establish significant AI infrastructure in the region. Elea’s existing operational capacity is around 300MW, with more than 1GW currently under development, positioning it as a key player in Brazil's rapidly growing data center market.

This acquisition signifies a notable shift in the region’s digital infrastructure landscape as it aims to support large-scale AI and cloud deployments. With Brazil having access to gigawatt-scale renewable energy, the deal is expected to unlock the potential for substantial AI infrastructure growth, enhancing Brazil's national autonomy in this sector. I Squared's backing will enable Elea to expand its capabilities and cater to increasing international demand for AI services, solidifying its role in the global AI infrastructure network.