CIM Group and Novva Data Centers, a state-of-the-art data center company providing purpose-built facilities across the western United States, have closed on $2 billion of financing to complete the build-out of Novva’s flagship 175-megawatt data center in Salt Lake City.
The financing was provided by J.P. Morgan and Starwood Property Trust. The capital will allow Novva to complete the second and third phases of construction of its 100-acre data center campus, one of the largest direct-to-chip-cooled AI data centers in the world.
The first phase of the campus began operations in 2023 and has become well known for its design and engineering aspects, including the ability to operate without water year-round and cool with ambient air.
Phase 2 of the project began construction in December 2023 and will feature the campus’s second 318,000-square-foot data center, which will have the capacity to produce 72 megawatts of critical IT load. It is expe
