Globe Telecom to Invest $1 Billion in Data Centers

Globe Telecom Inc. plans to invest at least $1 billion in 2027 to expand its data-center business and capitalize on the global artificial intelligence boom. The company expects its data-center capacity to grow from 30-35 megawatts by the end of 2026 to 124 megawatts over the following three years.

These facilities are operated through ST Telemedia Global Data Centres Philippines, a venture with Ayala Corp. and Singapore Technologies Telemedia Pte. To fund this growth, Globe is considering a public listing of the venture. This expansion aligns with a mandate from President Ferdinand Marcos Jr. requiring sensitive digital information to remain under local jurisdiction to attract onshore investment.

The strategy coincides with the upcoming initial public offering of Globe's fintech arm, Mynt Inc. The IPO is expected to be the largest in Philippine history, raising approximately P60 billion. President and CEO Carl Raymond Cruz stated that the company will prioritize investments in the digital economy, noting that data traffic will likely increase significantly due to AI.