Reported about 6 hours ago
Advent International has agreed to purchase a majority stake in LayerZero Power Systems, a company that produces power infrastructure equipment for data centers, valued at approximately $1 billion. This acquisition comes amid growing demand for data center capacity driven by AI services like ChatGPT. LayerZero's products play a critical role in energy distribution for data centers, and Advent aims to enhance manufacturing capacity and customer reach while maintaining the founders as minority stakeholders.
Source: YAHOO