Goodman and CPPIB launch $9.3bn European AI data JV

This is one of the clearer examples of how the AI boom is reshaping real‑asset markets. A$14 billion for 435 MW of power and 282 MW of IT load across just four European projects underscores how hungry hyperscalers and AI tenants are for high‑spec, well‑powered sites in major metros. Goodman has been repositioning itself from a logistics landlord to an “AI infrastructure” developer; bringing in CPPIB as a 50‑50 capital partner lets it pursue very large, multi‑country campuses without over‑levering its own balance sheet.([enterpriseai.economictimes.indiatimes.com](https://enterpriseai.economictimes.indiatimes.com/news/industry/goodman-group-partners-with-cppib-for-93-billion-data-centre-expansion-in-europe/126138892))

For the race to AGI, this is more than just another data‑centre announcement. It signals that long‑duration, low‑cost capital (pension funds, sovereigns) is now comfortable underwriting AI‑driven demand out to the 2030s. That, in turn, makes it easier for U.S. and European labs to plan multi‑year model‑training roadmaps on the assumption that power‑dense, liquid‑cooled capacity will be there when they need it. The risk is that this wave of build‑out locks in enormous carbon and grid footprints just as policymakers are struggling to square AI ambition with climate targets. But in purely competitive terms, a denser European compute spine, partly financed by Canadian retirement savings and built by an Australian developer, reinforces how global the AI infrastructure race has become.