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ESR and CloudHQ Partner for $2 Billion Data Centre Campus in Japan

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ESR Group, a Hong Kong-based real estate manager, has announced a partnership with U.S.-based data centre provider CloudHQ to co-develop and operate a $2 billion data centre campus in Osaka, Japan. The facility will be built in three phases, with the first phase set to be operational by June 2025, delivering 25 megawatts (MW) of capacity.

This collaboration comes at a time when the growing demand for artificial intelligence (AI) is fueling a global surge in data centre investments, with real estate managers, private equity firms, and global investors racing to meet this demand. The new campus in Nanko Kita, Osaka, is expected to offer a total of 130 MW of data centre capacity upon completion.

ESR views this joint venture as a significant step in its broader strategy to expand and enhance its data centre capabilities. According to Diarmid Massey, CEO of ESR Data Centres, the company remains confident in the long-term growth potential of the data centre market in Japan and across the Asia-Pacific region.

 

Infosys Raises Annual Revenue Forecast on US Demand Revival

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Infosys, India’s second-largest software services exporter, has raised its annual revenue forecast for the third time this financial year, driven by a revival in U.S. demand, particularly from banking and retail clients. The company now expects its annual revenue to rise by 4.5% to 5%, an increase from its previous forecast of 3.75% to 4.5%.

This upbeat outlook mirrors the sentiments of other Indian IT giants, including Tata Consultancy Services (TCS) and HCLTech, which have also reported early signs of a recovery in discretionary spending. Infosys’ CEO, Salil Parekh, noted an improvement in the U.S. retail and consumer product industries, as challenges related to discretionary spending ease.

In the third quarter, Infosys posted a 7.6% revenue growth to 417.64 billion rupees ($4.83 billion), exceeding analyst estimates of 412.78 billion rupees. The growth was mainly driven by an uptick in revenue from North American clients, which constitute 60% of the company’s total revenue. This marks a significant recovery, as North American revenue had declined for five consecutive quarters.

Infosys also reported an 11.4% increase in profit for the quarter, reaching 68.06 billion rupees, surpassing analysts’ expectations. The company highlighted that all eight business segments saw higher growth, with the financial services division growing 6.1%. The company secured large orders worth $2.5 billion, reflecting its focus on significant deals and strategic engagements.

Gaurav Parab, an analyst at NelsonHall, noted the positive results, particularly the company’s focus on large deals and the promising developments in Agentic AI, a technology enabling AI-powered agents and bots.

 

E-commerce Startup Rokt Valued at $3.5 Billion Following $335 Million Secondary Offering

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E-commerce technology firm Rokt has reached a valuation of $3.5 billion after securing $335 million in a secondary share offering. The offering was backed by prominent investors, including Tiger Global Management, Square Peg, Australia’s Barrenjoey, and SecondQuarter, with some of Rokt’s board members also participating in the deal.

Founded in 2012 in Australia, Rokt leverages artificial intelligence and machine learning to enhance the e-commerce experience by analyzing online shoppers’ behaviors and interactions with products. The company’s valuation had previously been $2.4 billion at the close of 2022, marking significant growth over the past year.

CEO and co-founder Bruce Buchanan expressed pride in the company’s progress, citing a remarkable 43% year-over-year revenue growth, which reached $600 million. Rokt has expanded globally, operating in approximately 15 markets across North America, Europe, and the Asia-Pacific region. Its clientele includes major companies like Uber, Macy’s, Live Nation, and AMC Theatres.

In a separate development, Rokt also announced a merger with customer data platform mParticle in a $300 million deal, further enhancing its growth trajectory.