GLP has secured a RMB2.5bn (€300m) investment in its China data centre business from Chinese state-owned Quzhou Industrial Holding.
Zhejiang Province-based Quzhou Industrial will become a strategic shareholder of GLP’s China data centre business.
GLP currently has a portfolio including 20 data centres totalling 1.4GW of secured IT capacity across various stages of development and operation.
The provincial government has a comprehensive AI development strategy targeting over RMB1.2trn in core AI industry revenue by 2030.
GLP said the partnership built on the strategic alignment reached in April between Governor Liu Jie of Zhejiang Province and GLP co-founder and CEO Ming Z Mei to deepen collaboration on industries of the future.
It said the agreement marked the first milestone in a comprehensive partnership that both parties were jointly developing.
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