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Bain Capital Plans $4 Billion+ Sale of China Data Centre Arm WinTriX

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Bain Capital is preparing to sell the China business of data centre operator WinTriX DC Group, in a deal that could value the division at over $4 billion, according to two sources with direct knowledge of the matter. The move comes amid soaring valuations in the global data centre market, fueled by surging demand for artificial intelligence infrastructure.

The potential sale would mark a major strategic reshuffle for Bain Capital, which acquired Chindata Group in 2019, later merged it with Southeast Asia’s Bridge Data Centres, and then rebranded and separated the businesses under the WinTriX name after taking Chindata private in a $3.16 billion deal in 2022.

Key Financials and Deal Context:

  • WinTriX’s China unit is projected to generate close to 4 billion yuan ($554 million) in EBITDA in 2025.

  • The sale process is in early stages, with advisors having held preliminary talks with potential buyers.

  • Bytedance, the parent company of TikTok, was WinTriX’s largest customer in 2022, accounting for 86% of its revenue, according to Fitch Ratings.

Market Backdrop:
The sale comes as data centre valuations surge globally, bolstered by AI-driven growth. In 2023, Australia’s AirTrunk was sold to a Blackstone-led consortium at over 20 times forward earnings, illustrating investor appetite in the sector. By comparison, GDS Holdings, a major China-based rival, is currently trading at a P/E multiple of 8.48, per LSEG data.

Fitch Downgrade Adds Complexity:
Despite growth opportunities, Fitch Ratings downgraded WinTriX in February from “BBB” to “BB”, citing increased risks tied to its strategic pivot toward overseas expansion, slower demand for hyperscale centres in China, and rising local competition.

Bridge Data Centres to Remain Under Bain:
Sources said Bain will retain control of Bridge Data Centres, which operates outside China and in March secured a $2.8 billion bank loan to support expansion in markets like India and Malaysia.

Neither Bain Capital nor WinTriX responded to Reuters’ requests for comment.

As AI infrastructure continues to drive global investment in cloud and compute capabilities, the potential WinTriX China sale could be a timely cash-out for Bain Capital, while also offering a major player a foothold in China’s data infrastructure market — albeit one still closely tied to a dominant but concentrated revenue base.

AI Leaders Urge U.S. to Boost Exports and Infrastructure to Stay Ahead of China

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Top executives from OpenAI, Microsoft, and AMD warned U.S. lawmakers on Thursday that the country risks losing its lead in artificial intelligence to China unless it expands infrastructure, loosens AI chip export restrictions, and strengthens workforce training. Their testimony before the U.S. Senate Commerce Committee, chaired by Senator Ted Cruz, emphasized the urgent need for pro-growth AI policies to counter China’s rapid advancements.

The call to action follows China’s DeepSeek AI breakthrough last year and Huawei’s rollout of advanced AI chips, both of which have shaken Washington’s confidence in maintaining AI dominance.

“The number-one factor that will define whether the U.S. or China wins this race is whose technology is most broadly adopted in the rest of the world,” said Brad Smith, President of Microsoft. He added that Microsoft has banned internal use of DeepSeek due to data privacy and propaganda concerns.
“The lesson from Huawei and 5G is that whoever gets there first will be difficult to supplant.”

Key Takeaways from the Senate Hearing:

  • OpenAI CEO Sam Altman emphasized the need for massive infrastructure investment, including data centers and power generation, to fuel AI’s growth.

  • AMD CEO Lisa Su highlighted the importance of maintaining competitiveness in AI chip design while also ensuring export flexibility.

  • Smith called for broader AI education, R&D funding, and skilled labor development, including more electricians for AI facilities.

The tech industry is pushing back against Biden-era AI export rules that aimed to limit China’s access to powerful AI chips. In response, the Trump administration is preparing to rescind those curbs and replace them with a new framework — a move praised by Cruz, Altman, and Su during the session.

“The Biden administration’s misguided midnight AI diffusion rule on chips and model weights would have crippled American tech companies’ ability to sell AI to the world,” Cruz said.

China’s DeepSeek, based in Hangzhou, made waves by launching a powerful, cost-effective AI model competitive with OpenAI and Meta — a move that intensified pressure on U.S. lawmakers to act quickly.

Meanwhile, Huawei is preparing to mass-ship advanced AI chips to Chinese customers despite ongoing U.S. trade restrictions.

With national security, economic leadership, and technological supremacy at stake, AI executives stressed that global market penetration—not just technical capability—will determine who wins the AI race.

AI Leaders Urge U.S. Senate to Accelerate Power Permitting, Unlock Government Data for AI Training

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Top executives from Microsoft, OpenAI, AMD, and CoreWeave will testify before the U.S. Senate Commerce Committee on Thursday, pressing lawmakers to modernize power infrastructure and expand access to federal data to meet the soaring demands of artificial intelligence.

Key Points from Testimonies:

🔹 Brad Smith (Microsoft President)

  • Warns U.S. AI development is hampered by “50-year-old infrastructure”.

  • Calls for streamlined permitting for new energy sources and transmission lines.

  • Urges Congress to unlock federal government data for AI training to stay competitive with China and the U.K.

“The federal government remains one of the largest untapped sources of high-quality data.”

🔹 Sam Altman (OpenAI CEO)

  • Emphasizes growing global reliance on AI:

“We want to build a brain for the world and make it super easy for people to use it.”

  • Says increased AI adoption requires more chips, energy, supercomputers, and training data.

  • Advocates for “common-sense restrictions” to mitigate potential AI harms.

🔹 Michael Intrator (CoreWeave CEO)

  • Highlights the massive energy appetite of AI:

“An insatiable hunger for compute and energy that borders on exponential.”

  • Points to DOE projections: Data centers could consume 12% of U.S. electricity by 2028 (up from 4.4% in 2023).

  • Urges faster approval of generation and transmission projects.

🔹 Lisa Su (AMD CEO)

  • Argues leadership in AI means rapid data center expansion powered by reliable, clean, affordable energy.

  • Stresses the need to extend AI beyond the cloud, integrating it into everyday consumer devices.

“AI must be as accessible and dependable as electricity.”

Context & Urgency:

  • The Senate hearing, titled “Winning the AI Race”, comes as AI’s power and data demands grow exponentially.

  • Leaders argue that regulatory inertia threatens U.S. competitiveness in AI against global rivals.

By linking national competitiveness with infrastructure and data reform, the tech leaders hope to align federal policy with AI’s exponential growth trajectory.