Globe Telecom to Invest $1 Billion in Data Centers, Eyes AI-Driven Growth and IPO

Globe Telecom Inc. plans to invest at least $1 billion in 2027 to expand its data-center business, betting on AI-driven demand for computing capacity, President and CEO Carl Raymond Cruz said Monday. Capital expenditures are expected to equal 23% to 28% of revenue over the next few years. The Philippine carrier's data-center venture with ST Telemedia currently runs five facilities. Capacity is set to reach 30 to 35 megawatts by end-2026, rising to 124 MW over the following three years through new sites and expansion. A listing of the venture is among options to fund further growth. The move follows Globe's success with fintech arm Mynt Inc., valued at $5 billion in 2024. Mynt's IPO is expected to raise about 60 billion pesos ($387 million) next month, the Philippines' largest. Globe trails rival PLDT Inc. in the domestic data-center market. The Philippines has 44 data centers with about 140 MW of live capacity, the second-fewest among Asian markets tracked by BMI.