# Philippe Laffont's $70 billion investment firm has launched a venture to buy land that will be developed for AI data centers.

*genai · news · 2026-05-01 · Livemint*

## Key points

- Coatue Management has launched Next Frontier to buy and develop land for AI data centers.
- Next Frontier's facilities target AI clients like Anthropic and are acquiring land in Indiana.
- Next Frontier and Fluidstack jointly raised $5.7 billion in junk bonds for a 430MW data center.
- Coatue is personally funding Next Frontier, alongside its management company and outside investors.
- Next Frontier began acquiring land with major power access only this year.

**Companies:** Coatue Management, Anthropic, OpenAI, Meta Platforms, Google, Blackstone, GE Vernova, Vistra, CoreWeave, Hut 8, Firmus, DayOne, Scala Data Centers, Fluidstack
**Countries:** United States, Australia, Singapore, Brazil

[Read the full story on Livemint](https://www.livemint.com/ai/ai-investor-coatue-joins-data-center-frenzy-with-new-venture-to-buy-land-11777648453382.html)

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