I Squared Capital has officially announced its acquisition of Elea Data Centers, a move that signals a massive shift in Latin America’s digital landscape. 

As one of Brazil’s largest carrier-neutral platforms, Elea currently operates nine interconnected campuses across major hubs like São Paulo and Rio de Janeiro. With over 300MW of powered land and 1GW in development, this partnership is backed by a projected US$10 billion in capital to accelerate the development of high-density AI infrastructure.

The investment targets a market that is quickly becoming a global hub for digital infrastructure. Brazil’s unique combination of 180 million internet users and a surplus of low-cost, renewable energy makes it an ideal location for the demands of modern AI. By focusing on the +3GW Rio AI City development, I Squared Capital and Elea are positioning themselves to address the global energy constraints currently hindering large-scale hyperscale deployments.

Alessandro Lombardi, President and Founder of Elea Data Centers, emphasized the strategic importance of Brazil’s energy grid. “AI infrastructure is now constrained less by technology and more by access to energy. Brazil is one of the few markets in the world with gigawatt-scale renewable energy available for data center expansion. With this investment, we are scaling a distributed AI infrastructure platform designed to unlock that potential across the country.”

Read the complete press release.