Ares Makes $700 Million Bet on AI With Virginia Buying Spree
Summarize this article with:
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000The AI Race:Ares Management Corp. is ramping up its bet on the AI boom, spending $700 million to build a sprawling data-center complex and buy fully-leased properties in Virginia.The Los Angeles-based investment firm, which absorbed data-center operator ADA Infrastructure this year, agreed to buy a development site in Spotsylvania County, where two data centers are slated, according to a person with knowledge of the matter.